Michael Jackson could lose his California ranch
Source: KFSM.com
February 27, 2008
LOS ANGELES (AP) - Court documents say Michael Jackson has until March 19th to pay more than $24 million he owes on his Neverland Ranch, or his property will go up for auction.
Fox News obtained court papers showing a title company has filed a notice of a trustee's sale with a county superior court. The papers indicate if there is an auction, the asking price could be higher than the $24.5 million the entertainer owes. That's because of interest due and other costs.
Jackson does not live at the 2,500-acre ranch northwest of Santa Barbara, California, any more. He's spent a good deal of time overseas since his 2005 acquittal on child molestation charges. He's also spent some time in Las Vegas as he tries to jump-start his musical career.
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