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• Neverland Ranch is the famous amusement park-like property owned by pop sensation Michael Jackson. In July 2008, Jackson's agents contacted Julien's Auction House, to arrange for a sale of the contents of Neverland to cover some of the large debts that Jackson has accrued.

  An auction was set for April 21-25, 2009, but in March, Jackson filed a suit stating that he had not given permission to sell many of the "priceless and irreplaceable" items at Neverland. Julien's countersued.Salon: Threat detailed in dispute over Neverland trove (March 24, 2009) Just a week prior to the sale, a settlement took place and the sale was canceled. Jackson also withdrew his lawsuit against Julien's.BBC: Jackson Property Sale Canceled (April 15, 2009)

• Fast Facts

  1. Address: 5225 Figueroa Mountain Rd Los Olivos, CA 93441
  2. In the Santa Ynez Valley
  3. Elizabeth Taylor married on the ranch in 1991
  4. Children were frequent guests to the ranch
  5. Neverland auction will also include everything in the house and on the grounds
  6. Jackson has not been to Neverland since June 30, 2005
  7. Currently no one lives at Neverland
  8. Auction is of 2,000 items removed from NeverlandE Online: Michael Jackson Auction Caught Between a Hard Rock and a Legal Place (March 24, 2009)
  9. Could fetch between $10 million and $20 millionE Online: Michael Jackson Auction Caught Between a Hard Rock and a Legal Place (March 24, 2009)

• Financial Troubles

  Once a golf course, the ranch opened in 1988 spanning 2,800 acres. The property is named after the fantasy island in Peter Pan and also contains a zoo. Due to a defaulted $24.5 million dollar loan, Neverland went into foreclosure. As of February 26, 2008, the ranch foreclosed and an auction date of March 19, 2008 was made. Jackson has the option to pay off the $24.5 million dollar debt by the March date or else the property will go up for public auction.

• Related Mahalo Pages

  Michael Jackson | Neverland Foreclosed | The Jackson 5 | Janet Jackson | Thriller 25 Michael Jackson Album | Lisa Marie Presley | Mariah Carey | Usher | Britney Spears | Justin Timberlake | Michael Jackson Auction | Thriller

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