Pop star Michael Jackson could lose his Neverland Ranch if he fails to pay nearly $25 Million that he owes on the hefty California property. If Mr. Jackson does not pay more than three months mortgage on the property it will go to auction on March 19, reports a Santa Barbara. Jackson, who bought the island in 1987 intending to create a fantasy land for children, has not lived there since his acquittal on child molestation charges in 2005. After he purchased Neverland, Jackson built a zoo and fairground on the 2,800 acre (1,100 hectare) property north-west of Santa Barbara. It was closed in 2006 after he failed to pay his staff or maintain proper insurance. According to court documents cited by Fox News, the auction is to include the house and everything on the estate including “all ferris wheels, carousels, merry-go-round type devices… and all amusement ride equipment and facilities of every kind or nature.”
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