djc
02-26-2008, 06:06 PM
Pop star has until March 19 to pay, or estate will be sold to highest bidder
LOS ANGELES - Michael Jackson’s famed Neverland Valley Ranch in California will be foreclosed and sold on March 19 unless the pop star pays a balance of nearly $25 million, property records showed on Tuesday.
FoxNews.com celebrity columnist Roger Friedman reported on the Web site (www.foxnews.com) that Jackson has been formally apprised of the foreclosure and that legal documents have also been filed with the Santa Barbara County Recorder’s office.
“You are in default of a deed of trust ...,” Jackson was told in the five-page filing, according to a copy of the document published by FoxNews.com. “Unless you take action to protect your property it may be sold at a public sale.”According to the documents, if Jackson fails to pay the outstanding balance, estimated at $24.5 million, Neverland would be sold to the highest bidder at a public auction on the courthouse steps.
http://www.msnbc.msn.com/id/23359218/
LOS ANGELES - Michael Jackson’s famed Neverland Valley Ranch in California will be foreclosed and sold on March 19 unless the pop star pays a balance of nearly $25 million, property records showed on Tuesday.
FoxNews.com celebrity columnist Roger Friedman reported on the Web site (www.foxnews.com) that Jackson has been formally apprised of the foreclosure and that legal documents have also been filed with the Santa Barbara County Recorder’s office.
“You are in default of a deed of trust ...,” Jackson was told in the five-page filing, according to a copy of the document published by FoxNews.com. “Unless you take action to protect your property it may be sold at a public sale.”According to the documents, if Jackson fails to pay the outstanding balance, estimated at $24.5 million, Neverland would be sold to the highest bidder at a public auction on the courthouse steps.
http://www.msnbc.msn.com/id/23359218/