Does Michael Jackson still own neverland?

Answer 1

Michael Jackson said in 2005 (during his trial) that he would not return to the property, saying he no longer considered the ranch a home, feeling the 70 police officers had "violated" it in their searches. In 2006, the facilities were closed and most of the staff were dismissed, with a spokesperson stating that this was the reflection of the fact that Jackson no longer lived there. On November 10, 2008, Jackson transferred the title to Sycamore Valley Ranch Company, LLC, and neighbors reported immediate activity on the property, including the amusement rides being trucked along the highway. Jackson still owned an unknown stake in the property, since Sycamore Valley Ranch was a joint venture between Jackson (represented by McMillan) and an affiliate of Colony Capital LLC (an investment company run by billionaire Tom Barrack). The Santa Barbara Assessor's Office stated Jackson sold an unknown proportion of his property rights for $35 million.

Answer 2

No, not completely, it's a bit more complicated than that!

Foreclosure proceedings commenced against Neverland Ranch on October 22, 2007. A spokesperson for Michael Jackson said that the loan was merely being refinanced.

On February 25, 2008, Jackson received word from Financial Title Company, the trustee, that unless he paid off $24,525,906.61 by March 19, a public auction would go forward of the land, buildings, and other items such as the rides, trains, and art.

On March 13, 2008, Michael Jackson's lawyer L. Londell McMillan announced that a private agreement had been reached with the private investment group, Fortress Investment, to save Jackson's ownership of the ranch. Before the agreement, Jackson owed three months' arrears on the property. McMillan did not reveal the details of the deal.

On May 12, 2008, a foreclosure auction for the ranch was canceled after an investment company, Colony Capital LLC, purchased the loan, which was in default. In a press release, Michael stated, "I am pleased with recent developments involving Neverland Ranch and I am in discussions with Colony and Tom Barrack with regard to the Ranch and other matters that would allow me to focus on the future."

In November 2008, Michael Jackson transferred the title to Sycamore Valley Ranch Company, LLC. Michael Jackson still owned an unknown stake in the property, since Sycamore Valley Ranch was a joint venture between Michael, (represented by McMillan) and an affiliate of Colony Capital LLC (an investment company run by billionaire Tom Barrack). The Santa Barbara County Assessor's Office stated that Micheal Jackson sold an unknown proportion of his property rights for $35 million.

Answer 3

It was going to auction in 2008 because Michael couldn't afford it, the auction was cancelled when investment company Colony Capital LLC stepped in, Michael still owned an unknown stake in the property.

Answer 4

Colony Capital LLC took it over in 2008, Michael still had an unknown stake in the property.

Answer 5

Colony Capital LLC took it over in 2008, but Michael still had an unknown stake in the property.

Answer 6

Colony Capital LLC have had it since 2008. Michael still had an unknown stake in the property which now goes to his children.

Answer 7

At the time of his death he still had an unknown stake in the property.

Answer 8

he has not sold it, it is just that no one has been inside for a few years.