People News
Michael Jackson sells Neverland
Nov 13, 2008, 4:00 GMT
Michael Jackson has sold his Neverland Ranch.
The troubled singer - who saved the 2,800-acre Californian estate from auction earlier this year after striking a deal with an investment company - has now officially passed the property deeds over to Sycamore Valley Ranch Company LLC.
Santa Barbara public records confirm Michael is no longer the owner of the ranch.
Earlier this year, Michael's brother Jermaine said the singer would do everything he could to keep his home, despite having over $300 million of debts.
He said: "It's not for sale and it never will be. Over my dead body will it be sold."
Michael hasn't lived at the Neverland ranch since June 2005, when he moved to Bahrain.
In 2006, authorities ordered the property to be boarded up after it was revealed Michael had not paid his employees or kept up with insurance payments.
The eccentric pop star bought the property in 1987, intending to turn it into a "paradise for children".
After installing a parade of fairground rides and a zoo, which included elephants, snakes, giraffes and llamas, Michael opened up his fairytale home to children.
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LewisNov 14th, 2008 - 21:45:27
It is unfortunate Jackson's fortune hasn't been better managed than it has. It goes to show that no matter how much money you might make, it's never hard to blow it (all?) away. There are many things he could do to make serious money again, but the problem is that on every level he is only used to the highest of profiles. I would love to see him score a number one hit again worldwide, like in the good old days (You are not alone, Scream,...). Come on Michael, pay those bills off and kick some ass! The difference between you and every other popstar is that you are royalty: noblesse oblige...
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