Reality may finally be catching up with Michael Jackson, as his Neverland ranch is now under serious threat of repossession.
He has 90 days to pay back a $23M loan plus interest, or he will lose Neverland and other property.
Jackson has reportedly defaulted on the $23M loan with Fortress Music Trust, which he was to have settled by October 12.
A notice of default was filed in Santa Barbara Country on October 22.
The value of Neverland is reported to be $17M. However, any sensible person buying it would undoubtedly have to spend a large amount of money removing the amusements and other assorted paraphernalia.