Well, all that we know right now is that a $35 million deed was sold to Sycamore Valley Ranch LCC. A deed is a transaction between both parties, bound by a mutual contract.
What's more, according to theNew York Times and many other reports, Michael owns half of this company with Tom Barrack. The head of Colony Investments(which also owns a few Los Vegas hotels). The two of them are believed to have founded the real estate company just this past July. And I would not be surprised if this were the case. Here is a quote from Michael himself...
"I am pleased with recent developments involving Neverland Ranch and I am in discussions with Colony and Tom Barrack with regard to the Ranch and other matters that would allow me to focus on the future."
Since the property is said to be worth over $100 million(not to mention the state of the economy), I sincerely doubt he sold the hole nine yards over for a measly $35 million. Now if that deed was given to an interest he partly owns, then that would be justifiable. Since 50% still belongs to him. Previous debts would be paid off. While the rest of the $70 million would be split between Tom Barrack & Michael Jackson.
In a year or two from now, he could buy the land and settle their again. By all that he's been through, I think he only views it as an asset nowadays.
More will be added shortly.:)
