Friday, 14 November 2008

Michael Jackson's Neverland deeds!

IMAGE: Michael Jackson beggingMichael Jackson has lost ownership of his Neverland ranch according to news reports.

Regular readers may remember us previously posting about Neverland going up for auction, due to Jackson's unpaid $24.5m debts on the property.

Although, as it turned out, Michael's ownership of the property got a last minute 'stay of execution', when he was bailed out of the debt by investment firm Colony Capital, just one week before the auction.

But this week Mr Jackson has transferred the deeds of ownership to Sycamore Valley Ranch Company. A company Jackson has a share in and is also said to be linked to the aforementioned Colony Capital investment company.

See full story: BBC Entertainment news

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