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Jackson's Neverland Heading to Auction

Posted: 2008-02-27 09:31:17

(Feb. 27) - Want Michael Jackson's merry-go-round? How about his locomotive, or his curtains? Those items and more could hit the auction block next month as the pop star's Neverland Ranch will be put up for public sale unless he pays the more than $24 million he still owes on the property, according to a Tuesday court filing.

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Mark J. Terrill, AP

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A last minute deal has saved Michael Jackson's Neverland Ranch from being lost to foreclosure. Just days before the ranch was to be sold off, a real estate investment firm called Colony Capital bought the loan on the singer's fortress.

Financial Title Co. filed the notice of trustee's sale with Santa Barbara County Superior Court, setting the auction date for March 19.

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A spokeswoman for Jackson did not return a call for comment.

Julie Wagner, a manager at the San Francisco-based title company, confirmed that Jackson's property was set for auction.

Court documents obtained by Fox News warn Jackson that he has until the date of the auction to take action to keep his lavish estate.

If the property does go to auction, the initial asking price could be higher than the $24.5 million Jackson owes because of interest due and other costs, according to the filing.

Also going up for sale would be all the home's furnishings and items on the property, according to the filing.

The reclusive star no longer lives at the famous, 2,500-acre spread in Los Olivos, a popular tourist spot northwest of Santa Barbara known for its wineries.

He has been mostly residing abroad since his 2005 acquittal on child molestation charges, although he has spent time in Las Vegas as he tries to stage his musical comeback.

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Copyright 2008 The Associated Press. The information contained in the AP news report may not be published, broadcast, rewritten or otherwise distributed without the prior written authority of The Associated Press. All active hyperlinks have been inserted by AOL.

2008-02-26 15:11:25

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1205 comments

OoKawaii KutieoO 08:55:20 PM Mar 09 2008

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This only furthers the point that those allegations are false. These children are with their families, coming in bus loads and are chaperoned from the charity (Make a Wish Foundation). How the heck can a few of them at any given moment, be isolated from their parents and be inappropriately touched? All those employees, other children, their families/parents? Ridiculous.

Muddnut, no I don't know who would want something from a petophile. I'm not sure what a petophile is, really. I'd have to find out the correct spelling of a word first before I inspect the situation...lol.

Cuneo123 09:21:32 AM Feb 28 2008

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So why don't any of these articles give the address in case people want to go to the auction?

MMTilley 07:53:15 AM Feb 28 2008

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they should leave it ...and turn it into another graceland....kind of like a tourist attraction...afterall ... michael jackson is a stepping stone in music.......

UpstatePiano 04:11:17 AM Feb 28 2008

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MIchael who?

Raejeanowl 03:40:17 AM Feb 28 2008

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Ange, you are living in a dream world-what do you think a trustee's sale is? Jackson has mortgaged the place to the hilt to keep everything else from going under. He no longer has a voluntary say in this.

Bigunclegil 10:26:11 PM Feb 27 2008

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I bid one dollar for this taintd property! That is all it is worth now after the sick freak has lived there and used it to lure little boys to his lair!

AngeAndre4 09:01:25 PM Feb 27 2008

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How many times over the past 10 years has the media said that micheal is bankrupt, has no money etc. This is the 2nd time they have said that he has to sell his property. If he is going to sell his property its because he wants to and not because he has to. Micheal has ties with the richest people in Saudi Arabia of all places, do you really think that he would sell it without getting it for a whole lot more than what he supposedly owes on it, or what it is worth? Micheal is and has always been a very shrewd businessman (Beatles) and for those who hate him because of rumors are sad sad people. This will not make Micheal less of a talent because critics are now spreading this story once again. The best thing for him would be to sell it and move as far away from California--This place was his biggest downfall and unfortunately he let the wrong people into his life and has been paying for it ever since. None of us knows what did or did not happen and he will have to answer for any sins t

Princessdark21k 08:15:30 PM Feb 27 2008

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I think it's sad that this would happen to anybody, no matter who they are. He's probably going to lose something he obviously put a lot of time and money into making for himself and so he could have a place to be happy and relax. I know if it happened to me I'd be really upset. I can sympathize with his situation as far as this goes.

Vtchevymuddnut 08:06:46 PM Feb 27 2008

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Who would want to buy anything that belonged to a petophile?

Twncty7 07:43:43 PM Feb 27 2008

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Repo Robbin tweet, tweet, tweel-deet
Repo Robbin tweet, tweet, tweel-deet
Don't pay my bills they goona take my stuff tonight.
Tweet, tweet, tweet, tweet!

Foreclosure is as easy as ABC, 123!

I never can say goodbye, no, no, no, no
I never can say goodbye, no,no,no,no
But the repoman has took my stuff and they changed the locks on the door
They keep on tell'in me to pay me bills but I can't find work no more.
Tell me why....
I never can say goodbye.....

youminenow 07:39:54 PM Feb 27 2008

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OK, it's sad it has come to this but Michael Jackson' s legacy will still live forever. If I'm not mistaken he still reigns as the #1 seller of all time. Elvis, the Beatles or the Rolling Stones did not come close. So all you haters have to live with the fact that this sad person touched the lives of millions of people all over the world. Thousands of kids have visited Neverland Ranch and he donated millions of dollars to charities for children but all people want to talk about is his face or his trial (he was acquitted you know). Call him whatever you want but remember there may never be a music icon like him EVER again!

jdmk405 07:28:08 PM Feb 27 2008

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Makes you wanna Scream!

davepaiste 07:27:14 PM Feb 27 2008

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hes obamas buddy

jdmk405 07:26:36 PM Feb 27 2008

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Michael Jackson was at Walmart! Boys pants were half off.

bakervlbjcb 07:24:22 PM Feb 27 2008

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GOOD! I HOPE HE IS BROKE AND STAYS OUT OF THIS COUNTRY FOREVER. IF HE DIDN'T LIVE IN A PERVERT INFESTED SELF ABSORBED PART OF THIS COUNTRY HE WOULD BE IN JAIL NOW.
I AM NOT A BIGOTTED RACIST BUT I AM A CHILD ADVOCATE AND HE IS A SICKO

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