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Neverland Ranch Now Someone Else's Problem

5/12/2008 5:11 PM PDT BY TMZ STAFF
Neverland Ranch Now Someone Else's Problem

Michael Jackson's Neverland Ranch debt has been bought out just days before the property was to go on the auction block. Who's bad?
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TMZ has obtained the deed with the lucky new owners - 1224 LLC. The debt is said to be around $23 million - plus an additional few hundred for llama food.

For the record, Jackson is still the official owner of Neverland Ranch, he just signs his mortgage payments over to someone else now.

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Reader Comments

(Page 1 of 2) | 1 | 2 | Most Recent | Next 15 Comments
1.
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Cheryl:  1371 days ago

NO-ONE COULD EVEN PAY ME TO LIVE IN THAT HOUSE! ALL THOSE CHILDREN MOLESTED! YUK YUK YUK.

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pattie in cali:  1371 days ago

why should we care ? i don't give ten craps what this crazy person does, its a waist of time reporting on him. we gave up on him along long tima ago, we don't buy any of his music, or his family, they are a joke. this family needs help.

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D:  1371 days ago

Why do people keep bailing him out? He doesn't care or he would get his a** to work and try to pay off some of his debts.
He has earning potential he is just too sorry and mentally screwed up to work!

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D:  1371 days ago

hmmm. who are youtalking about? I did not recognize any names.

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Pat:  1371 days ago

"he just signs his mortgage payments over to someone else now"

Well, yeah, if he actually made any mortgage payments. 1224 LLC will find that out.

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Kelli:  1371 days ago

Light some incense and give it an exorcism.

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Feh:  1371 days ago

California secretary of state lists
1224 LLC
DELAWARE
CORPORATION SERVICE COMPANY WHICH WILL DO BUSINESS IN CALIFORNIA
AS CSC - LAWYERS INCORPORATING SERVICE (
C1592199)
Date Filed: 5/6/2008

1999 AVENUE OF THE STARS STE 1200
LOS ANGELES, CA 90067

Home of Colony Capital
www.colonyinc.com

recognize any names?



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hahahaha!:  1371 days ago

No .. spill spill! LOL

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The Saint:  1371 days ago

Where's his money? Did it all go for the trials? Thriller must still be selling well. Just what other debts does he have?

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MiMI:  1371 days ago

With all the money that man once had...there's no excuse why he doesnt own it outright....c'mon man

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Lenn K.:  1371 days ago

Sent over a couple of B-52 bombers and level the place and start over, that'll take care of all the demon spirits.

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Kelli:  1371 days ago

Great idea Lenn K.! haha!

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Twinker:  1371 days ago

NAMBLA's new headquarters.

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chris:  1371 days ago

How is he the "official owner" TMZ, if the deed is in some other name? Sounds like he's paying rent to me.

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AI9:  1371 days ago

Same as your trailer title has your name on it even though you still owe the bank for it. It is called a "deed of trust".

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