[Archive 2008-02-26] Michael Jackson's Neverland Ranch to be auctioned off

Historical archive — originally published 2008-02-26. This report records what was known on that date. It is not current news; subsequent events may have changed the situation. Wikinews closed in May 2026.

Neverland Valley Ranch, owned by Michael Jackson, is to be sold at auction on March 19, 2008, unless Jackson pays over US$24 million.

Financial Title Company, the trustee of his Santa Barbara County, California, home and amusement park, has foreclosed on the property. They notified Jackson of the foreclosure and sale on Monday. Jackson had only just recently paid an overdue property tax bill of $600,000.

The foreclosure auction will take place in front of the Santa Barbara County Courthouse in Santa Barbara. Jackson has until then to pay $24,525,906.61 he owes the title company.

In 2006, Jackson refinanced previous loans that had been bought up by Fortress Investment Group. The $300-million loan was secured with the aid of Sony Music Entertainment. However, the Neverland property was not part of that deal.

Jackson has not lived at Neverland since June 30, 2005, when he moved to Bahrain after a rape charge and subsequent acquittal.

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Text adapted from Michael Jackson's Neverland Ranch to be auctioned off by Wikinews contributors under CC BY 2.5. Paragraphs have been selected and abridged, and formatting adjusted. Contributor history.