Troubled superstar looks set to lose famous fantasy home
Troubled superstar, Michael Jackson, faces losing his 2,800 acre Neverland ranch unless he pays off a debt of $24,525,906.61 by March 19th, reports FOX News.
Jackson was notified on Monday by trustee, Financial Title Company. Should Jackson fail to pay what he owes, the property will undergo a public auction in Santa Barbara, California.
Mr Jackson, who created the Peter Pan-based Neverland home in 1987, has not lived at the property since being found not guilty of child molestation charges in 2005 and opted to close the ranch in 2006.
The 2,800 acre property contains a zoo and fairground, but reports suggest that the zoo is no longer inhabited and that the fairground no longer operates. However, any would-be buyer for the property could become the owner of many Jackson treasures as court documents indicate that the auction would include all personal property inside, including all fixtures, appliances, furniture and even all the fairground rides.
It's an unfortunate situation for the once adored megastar who now looks set to lose one of his biggest assets.
