Who Owns Neverland Ranch? Michael Jackson’s Unsellable House Marketed At Discount

HBO’s latest controversial documentary series “Leaving Neverland,” whose first part aired Sunday, opened up decade-old allegations of child molestation against pop icon Michael Jackson and brought the spot light back on his Los Angeles home, formerly known as the Neverland Ranch.

Neverland Ranch was mentioned several times by the two accusers on whose testimonies the documentary was based – James Safechuck, 40 (10 years old at the time of the claimed abuse), and Wade Robson, 36 (seven years old at the time of the claimed abuse). The two-hour long piece also featured extensive footage of the property, which was one of the three houses owned by the King of Pop – the other two being a “hideout” condo in Westwood and a place he kept in Century City – that Safechuck and Robson claimed they were molested in.

The 2,700 acre-property was made famous and subsequently infamous by Jackson in the years leading up to his acquittal from child molestation charges in 2005. Things got so bad that he began distancing himself from his own house. Eventually, with the conclusion of his trial, he refused to step into it anymore, saying that it no longer felt like home after around 40 officers searched the place trying to collect evidence against his alleged misconduct, Refinery29 reported.

Although he did not live in the Neverland Ranch, he retained ownership of it for the next four years till he defaulted on a $24.5 million loan, causing the bank to move to sell off the property. Jackson somehow managed to keep a hold of his property after entering into a financial agreement with the investment company, Colony Capital, which purchased the debt and a large share of the property as part of a joint venture with the musician - who was about to relaunch his career through a comeback music tour in 2009. Jackson died 18 days before his tour was scheduled to begin.

After an array of renovations and upgrades, the Neverland Ranch was given a new name - Sycamore Valley Ranch – and put on the market in 2015 for $100 million by the investment company. There was just one problem – nobody seemed to want to buy it. As a result, the property went back on the market two years later for the reduced price of $67 million. And the lack of interested buyers lowered the price again this year to $31 million.

“The main residence, a French Normandy-style manor, was designed by Robert Altevers in 1982. Crafted to perfection with exposed timber beams, brick and stonework, 5 fireplaces, and 18th century French oak parquet flooring from two chateaus in France, it spans approximately 12,598 square feet. The first floor master wing has a private loft, 2 master baths, 2 walk-in cedar-lined closets, and a private outdoor garden. The main residence has a total of 5 bedrooms and 7 full and 2 half baths, plus there are numerous accommodations for guests and staff throughout the property,” a post on Coldwell Banker broker Joyce Rey's site says.

In addition, the property included a tennis court, a movie theater, a dance studio, a 14-foot swimming pool, a lake with a waterfall and swans, boat stops and a beach. There was no mention of its previous owner anywhere in the post. In fact, the real estate agent said it was done to make sure to rule out prospective buyers who intended to turn the ranch into a Jackson museum.

Jackson's daughter Paris told Event magazine in 2013 the property should be restored.

"It’s beautiful there. It still has good energy. I think it should be restored to how it used to be so that the children who couldn’t have a childhood could have fun there. That was his goal — like kids in a hospital. They should restore all the rides and everything. As soon as I’m an adult, I’m on it. Count on it," she said, Vanity Fair reported.