November 13, 2008 17:24
Michael Jackson hands over deeds to Neverland
Singer hands ranch over to a corporation
Photo Gallery: Michael Jackson
Michael Jackson has handed over the deeds to his Neverland ranch to a company that he owns a partial stake in.
The singer filed a grand deed on Monday (November 10), making the Sycamore Valley Ranch Co, which he is said to own a stake of, the new ranch owner, reports Yahoo news.
Colony Capital LLC bought Jackson's $24.5 million (£15 million) loan on the property in May, but now the singer is reportedly relinquished control of the property he bought in 1988.
Neverland was due to be auctioned off until the loan was bought.
Visit NME Video for the latest music videos and artist interviews
You may need to upgrade your Flash Player
You can download the latest flash plugin here.
If you have installed flash but keep getting this message:
1. Try to bypass flash plugin detection here.
2. Ensure you have javascript enabled in your browser.
3. Try using Firefox
Listen to more Free Music at we7.com
Comments do not always reflect the views of NME, or IPC Media, for guidelines visit our Ts & Cs page