Jackson could lose Neverland ranch

February 27, 2008 11:28:24 AM PST
Court documents say Michael Jackson has until March 19th to pay more than $24 million he owes on his Neverland Ranch, or his property will go up for auction. Fox News obtained court papers showing a title company has filed a notice of a trustee's sale with a county superior court. The papers indicate if there is an auction, the asking price could be higher than the 24.5 million dollars the entertainer owes. That's because of interest due and other costs.

Jackson does not live at the 2,500-acre ranch northwest of Santa Barbara, California, any more. He's spent a good deal of time overseas since his 2005 acquittal on child molestation charges. He's also spent some time in Las Vegas as he tries to jump-start his musical career.

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