Neverland Ranch

Neverland Ranch is the famous 2,676 acre amusement park-like property once owned by pop singer Michael Jackson. The property is located in Santa Barbara County in California, approximately five miles north of Los Olivos, California and roughly eight miles north of Santa Ynez, California. http://www.nydailynews.com/real_estate/galleries/michael_jackon_/michael_jackon_.html</rerf> The property was owned by Jackson from 1988 to 2005. The ranch, formerly called the Sycamore Valley Ranch was renamed ‘Neverland’ in reference to the fantasy island, where kids never grow old, in the story of Peter Pan. .<ref> http://www.nydailynews.com/real_estate/galleries/michael_jackon_/michael_jackon_.html

Michael Jackson purchased the property from William Bone, a golf course developer, in 1988. Although the exact amount paid for the property was never disclosed, it has been estimated to have been in the range of $20-$30 million. http://www.nydailynews.com/real_estate/galleries/michael_jackon_/michael_jackon_.html Jackson developed the property, adding various attractions, including carnival rides, two trains that circled the property, gardens, and a zoo. Jackson was known to host groups of children and their families for visits to his ranch.

In 2003, during police investigations into child molestation charges brought up against Jackson, 70 police officers searched the ranch in an attempt to collect evidence. Jackson felt that the search had been a violation, and announced in 2005 that he would not be returning to the property. The ranch was closed, and most of the employees were let go the following year. http://abcnews.go.com/GMA/MichaelJackson/story?id=7936528&page=1

Foreclosure proceedings began on the ranch on October 22, 2007, despite Jackson representatives denying any financial troubles. In early 2008, the Jackson estate was notified that if $25 million owed on the property was not paid, that it would be auctioned off. In July of 2008, Jackson's agents contacted Julien's Auction House, to arrange for a sale of the contents of the Neverland Ranch, to cover some of the large debts that Jackson had accrued. http://www.nydailynews.com/gossip/2008/11/21/2008-11-21_michael_jackson_was_so_broke_he_had_no_b.html 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, but the two were able to settle, and the auction was cancelled. http://www.nydailynews.com/gossip/2008/11/21/2008-11-21_michael_jackson_was_so_broke_he_had_no_b.html

On November 10, 2008, Jackson transferred the title for the ranch to the Sycamore Valley Ranch Company, but kept an unknown stake in the property.

When Michael Jackson died on June 25, 2009, it was rumored that the Jackson family was intending to bury the singer at the Neverland Ranch property. http://www.cnn.com/2009/SHOWBIZ/Music/06/25/michael.jackson/ Fans flocked to Neverland and erected make-shift memorials in honor of Jackson. Santa Barbara county officials later announced that a burial on the property would not be permitted by law. http://www.billboard.com/news/michael-jackson-may-be-buried-at-neverland-1003988547.story