A new joint corporation owned by Michael Jackson and Colony Capital LLC now holds the grant deed to Neverland Ranch, according to sources who spoke to the Associated Press (AP).
Sycamore Valley Ranch Co. filed with the state in June.
From the AP report:
Sources close to the transaction tell Action News Sycamore Valley Ranch Company is a "joint venture" between the King of Pop and Los Angeles based Colony Capital. That source also says Jackson and Colony Capital will continue business projects together.
Jackson hasn’t lived at Neverland Ranch since being acquitted on false allegations of molestation in 2005.