Pop star Michael Jackson recently sold his Santa Ynez ranch, Neverland, transferring the property deed to the Sycamore Valley Ranch Co. LLC. The singer filed a grant deed on the ranch on Nov. 10, according to documents posted on the Santa Barbara County clerk-recorder website, sbcrecorder.com.
Jackson went into default on a $24.5 million loan on the property earlier this year and was facing foreclosure before Colony Capital bailed him out.
The property was called Sycamore Valley Ranch before Jackson bought it in the late 1980s and turned it into a miniature amusement park named after the fabled land in the adventures of Peter Pan.
This article appears in Nov 20-27, 2008.