Michael Jackson Hands Over Title to Neverland Ranch
Nov.14, 2008 in
Michael Jackson, Music, Pop News
Singer Michael Jackson has handed over the title on Neverland Ranch to a company made up of himself and the firm that holds his loan on the property.
Property records showed on Thursday that Jackson this week filed a grant deed on the ranch, and that the new owner of the 2,700-acre ranch in Santa Barbara County, California, is a company called the Sycamore Valley Ranch Company LLC.
A source close to the deal, who requested anonymity, said that Sycamore Valley Ranch is a joint venture between Jackson, 50, and Colony Capital LLC, the company that holds the loan of about $24 million on the property.
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