Michael Jackson loses Neverland!

Michael Jackson has transferred the deeds of his Californian Neverland ranch to a company he has a share in.

The King of pop bought the property back in the late 1980s. He built a zoo and a fairground and named it after the island in the story of Peter Pan, where children never grow up (Quite fitting really).

Cash strapped Jacko was set to sell the ranch back in May but at the last minute he was bailed out. However, he has now finally lost control.

It is not yet known what will happen to the 2,500 acre ranch near Santa Barbara.