neverland valley ranch , owned by michael jackson , is to be closed at auction on may 19 , 2008 , because jackson receives over us $ 24 m . investment compensation company , the trustee of his la barbara county , california , property and amusement park , has foreclosed on the property . they notified jackson of the bankruptcy and acquisition on monday . jackson had only just recently settled an overdue purchase toll bill of $ 600 , 000 .
Michael Jackson is the owner of Neverland.