Jackson gives up Neverland Ranch
Neverland ranch
Neverland was refinanced in March to save it from being auctioned off

Pop star Michael Jackson has lost ownership of his Neverland ranch in California after transferring the deeds to a company he has a share in.

Earlier this week, Jackson, 50, filed legal papers making the Sycamore Valley Ranch Company the new owner.

The company is linked to investment firm Colony Capital, which bailed the singer out in March when he owed $24.5m (£16m) on the property.

When it bought the debt, Neverland was a week away from being auctioned off.

The refinancing deal had meant that Jackson could keep the sprawling property.

Jackson, whose huge catalogue of hit records includes Billie Jean, Thriller and Man in the Mirror, has not lived at Neverland since he was acquitted of child molestation charges in 2005.

Fantasy land

It is not clear what will now happen to the property, which he bought in 1987.

The property, which Jackson aimed to turn into a fantasy land, is named after an island in the story Peter Pan, where children never grow up.

He built a zoo and fairground on the 2,800 acre (1,100 hectare) property which is north west of Santa Barbara.

It was closed in 2006 after Jackson failed to pay his staff or maintain proper insurance.


http://news.bbc.co.uk/2/hi/entertainment/7728871.stm

Its about Time!!

seant21, what do you mean its about time; so you are telling me you happy about the situation jackson finds himself now. would you wish that on your family or yourself for that matter. no matter what people think of him, he will always be my idol; in fact, the only thing about him that i don't like is the bleaching and everybody do make mistakes that end up big or small. and am telling you now, he is going to back maybe not as a singer but he is going to be back.

ideaworks:

seant21, what do you mean its about time; so you are telling me you happy about the situation jackson finds himself now. would you wish that on your family or yourself for that matter. no matter what people think of him, he will always be my idol; in fact, the only thing about him that i don't like is the bleaching and everybody do make mistakes that end up big or small. and am telling you now, he is going to back maybe not as a singer but he is going to be back.

I do not wish anything Bad on Him but Why Did he have The Ranch in The First Place?

HAS IT EVER OCCURED TO YOU SEANT21 THAT SOMETHINGS ARE DONE WITH GOOD INTENTIONS BUT SITUATIONS AND SOME UNFORSEEN FACTORS MIGHT TURN THAT GOOD INTENTION TO SOMETHING ELSE.

ACCORDING TO ELODIE, HE WANTED THE PLACE AS A FANTASY LAND WHERE CHILDREN AND ADULTS ALIKE CAN RELAX AND HAVE FUN WHICH I THINK ARISES FROM HIS LACK OF FUN WHILE GROWING UP.