Michael Jackson's fans and other people... ARE YOU SAD ABOUT THIS?

Question

LOS ANGELES – Michael Jackson has given up title to his Neverland ranch, transferring the deed to a company he partly controls.

The singer filed a grant deed on the ranch Monday that makes the new owner an entity called the Sycamore Valley Ranch Co. LLC, Tom Pearson of the Santa Barbara County clerk-recorder's office said Wednesday.

Sycamore Valley Ranch Co. is a joint venture between Jackson and an affiliate of Colony Capital LLC, according to a person with knowledge of the transaction who was not authorized to speak on the record and requested anonymity.

The person could not say what would become of the 2,500-acre property in the bucolic, oak-studded hills of Santa Barbara County's wine country, 120 miles northwest of Los Angeles.

A call to an attorney for Jackson, L. Londell McMillan, was not immediately returned Wednesday.

Jackson had gone into default on the $24.5 million he owes on the property and had faced foreclosure before Colony Capital bailed him out earlier this year by purchasing his loan.

Pearson said the deed did not indicate who owns Sycamore.

A listing on the California secretary of state's Web site says the company filed with the state in June. It does not identify its owners, but the company has the same Century City address as Colony Capital LLC.

Colony Capital is a Los Angeles-based real estate investment company run by billionaire Tom Barrack. It owns several properties in Las Vegas, including the Las Vegas Hilton.

The property was called Sycamore Valley Ranch before Jackson bought it in 1988 and began turning it into a miniature amusement park with a zoo, Ferris wheel, roller coaster and other rides.

At the height of his popularity, the superstar invited thousands of children to play on the grounds.

He renamed the ranch after the mythical land of Peter Pan and set about creating the magical childhood experiences he said his career as a child star had denied him.

"It's like stepping into Oz," he once said of Neverland. "Once you come in the gates, the outside world does not exist."

Jackson has struggled to pay his debts since his financial empire began to crumble following his arrest in 2003 on charges that he molested a 13-year-old boy at the ranch. He has not been seen in the Los Olivos area since a jury acquitted him of all charges, and recent aerial photos show the ranch falling into disrepair.

Answer 1

I am very sad that MJ will never return to his beloved home in Los Olivos. He sold it for 20million dollars more than what he paid back in the late 1980s. I remember when He moved into the area, so close to where I was living at the time. He loved the beauty and simplicity of the area. Perhaps he has moved on and is happy elsewhere in the world. Far away from the scars of the SB county Sheriffs and prosecutors. He will miss this area and the people. And some of us will miss him too. But he is happy where he is right now. Wherever he is. I do hope that the LA and vegas based owner of the ranch opens it up to the public as an attraction, or a tribute to MJ. Just like Graceland in Tenn.

Answer 2

Not really. Michael said he never really wanted to go back there anyway because it had so many bad memories. Michael will be fine! Remember when they turned that place upside down and found absolutely NOTHING incriminating on him...they violated him so horribly...I say good-riddens and hello to a fresh start with his wonderful family!

Answer 3

As much of a huge fan of MJ as I am I really think he could tour and do more to pull himself together and get himself out of debt. He has kids to think of and I really think he should have tried to keep Neverland as a legacy for them. Instead of standing strong and fighting like he should he seems to have folded. He needs to get back out there for all of us fans who have supported him and loved him through the years. We would PAY to see him, PAY to hear him. We STILL LOVE HIM. He's not using his options wisely.

Peace & Love :)

Answer 4

Well of course this made me sad.. but if there wasn't any other way..then he made the rite decision. Neverland will always be MJ's and we will always love it! =)

Answer 5

yea it is..that was his dream and his life..now is being taken away,,reminds me of when the IRS took Willie Nelsons place...

Answer 6

Sad? This guy had everything - talent, success, good position in the industry. He blew it.



No, I'm not sad. I like seeing the legal system work.

Answer 7

no not at all