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Michael Jackson gives up deeds to Neverland



Country:  United States

13 November 2008

US singer Michael Jackson has finally given up the deeds to his Neverland ranch, named after the mythical land of Peter Pan, after running into financial dificulties, the latest downturn in the fortunes of the reclusive singer.

Jackson has transferred ownership of the property to a company called the Sycamore Valley Ranch Co LLC, according to the Santa Barbara County clerk-recorder’s office.

The company is believed to be a joint venture between the singer and an affiliate of Colony Capital LLC.
It is not clear what will now happen to the 2,500-acre home located 120 miles northwest of Los Angeles. The property features a miniature amusement park with a zoo, Ferris wheel, roller coaster and other rides.



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