According to a court filing, unless
Michael Jackson coughs up the $24 million he owes on his Neverland Ranch, the property will be put up for sale at a public auction next month.
The auction date is currently set for March 19, but the King of Pop has until the date of the auction to take action to keep his Los Olivos estate. If the property makes it to auction, everything (even the merry-go-round and other carnival rides) must go. The initial asking price could be more than what Jackson currently owes because of interest due and other costs.
Jackson no longer lives at Neverland, and has been mostly residing abroad since his 2005 acquittal on child molestation charges. - Adam Bryant