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ALERT ALERT MJ Neverland News [check post #1 for updates]

Okay bare with me here, I have come up with something!

there are four different sections of the transfer, this is them in order

*TERMINATION AGREEMENT*

(I) 1224 LLC - Colony Inc (Indentifier)
(I) 2006-0029252 - THE $23 million DEED OF TRUST (Indentifier)
(I) JACKSON, MICHAEL J (Indentifier)

*ASSIGNMENT DEED OF TRUST*

(O) 1224 LLC - Colony Inc (Seller)
(I) JACKSON, MICHAEL J (Indentifier)
(E) SYCAMORE VALLEY RANCH COMPANY LLC (Buyer)

*RECONVEYANCE* (Which means to be passed back to the original owner)

(I) 2006-0029252 - THE $23 million DEED OF TRUST (Indentifier)
(E) JACKSON, MICHAEL J

*GRANT DEED*

(O) JACKSON, MICHAEL J (Seller)
(E) SYCAMORE VALLEY RANCH COMPANY LLC (Buyer)

So what can people get from this? in a nutshell it appears, the original agreement was cancelled, the deed of trust was transferred from Colony to Sycamore, then the interesting bit is the deed of trust ($23 Mil) being transferred back to Michael and THEN him selling up? there is no Colony Inc involved anymore, just Michael & Sycamore mmmmmmm
 
there is no Colony Inc involved anymore, just Michael & Sycamore mmmmmmm
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sycamore is colony. its just another company they set up the company mj is a joint partner in. so colony ended the original agreement they had with mj over the loan as itwas all paid up and mj then sold the ranch to sycamore which is another of colonys companies to form the new agreement
 
akonmj said:
Okay bare with me here, I have come up with something!

there are four different sections of the transfer, this is them in order

*TERMINATION AGREEMENT*

(I) 1224 LLC - Colony Inc (Indentifier)
(I) 2006-0029252 - THE $23 million DEED OF TRUST (Indentifier)
(I) JACKSON, MICHAEL J (Indentifier)

*ASSIGNMENT DEED OF TRUST*

(O) 1224 LLC - Colony Inc (Seller)
(I) JACKSON, MICHAEL J (Indentifier)
(E) SYCAMORE VALLEY RANCH COMPANY LLC (Buyer)

*RECONVEYANCE* (Which means to be passed back to the original owner)

(I) 2006-0029252 - THE $23 million DEED OF TRUST (Indentifier)
(E) JACKSON, MICHAEL J

*GRANT DEED*

(O) JACKSON, MICHAEL J (Seller)
(E) SYCAMORE VALLEY RANCH COMPANY LLC (Buyer)

So what can people get from this? in a nutshell it appears, the original agreement was cancelled, the deed of trust was transferred from Colony to Sycamore, then the interesting bit is the deed of trust ($23 Mil) being transferred back to Michael and THEN him selling up? there is no Colony Inc involved anymore, just Michael & Sycamore mmmmmmm
Click to expand...

:unsure:.............................
 
akonmj said:
Okay bare with me here, I have come up with something!

there are four different sections of the transfer, this is them in order

*TERMINATION AGREEMENT*

(I) 1224 LLC - Colony Inc (Indentifier)
(I) 2006-0029252 - THE $23 million DEED OF TRUST (Indentifier)
(I) JACKSON, MICHAEL J (Indentifier)

*ASSIGNMENT DEED OF TRUST*

(O) 1224 LLC - Colony Inc (Seller)
(I) JACKSON, MICHAEL J (Indentifier)
(E) SYCAMORE VALLEY RANCH COMPANY LLC (Buyer)

*RECONVEYANCE* (Which means to be passed back to the original owner)

(I) 2006-0029252 - THE $23 million DEED OF TRUST (Indentifier)
(E) JACKSON, MICHAEL J

*GRANT DEED*

(O) JACKSON, MICHAEL J (Seller)
(E) SYCAMORE VALLEY RANCH COMPANY LLC (Buyer)

So what can people get from this? in a nutshell it appears, the original agreement was cancelled, the deed of trust was transferred from Colony to Sycamore, then the interesting bit is the deed of trust ($23 Mil) being transferred back to Michael and THEN him selling up? there is no Colony Inc involved anymore, just Michael & Sycamore mmmmmmm
Click to expand...

Actually we went thru this discussion many pages back. I think that the lien that was once on the property has now been cleared with the bank note of $24.5 mil being brought by the LLC that he is now a part of. He still has an interest, but it's also not his home -- if that makes any sense.
 
is the deed of trust ($23 Mil) being transferred back to Michael
Click to expand...
thats something i dont get. so the loan has moved over to sycamore and wasnt paid off? so mj got 35 mill and the 23 mill debt will be paid off by whatever happens with the ranch ie money made from it being a resort for eg? dam its to late to be thinking about this stuff lol
 
elusive moonwalker said:
sycamore is colony. its just another company they set up the company mj is a joint partner in. so colony ended the original agreement they had with mj over the loan as itwas all paid up and mj then sold the ranch to sycamore which is another of colonys companies to form the new agreement
Click to expand...

It just seems strange that the company is called Sycamore Valley Ranch, exactly what Neverland was prior to Michael buying it?
 
Let me also say that I think that this deal is structured (pure speculation on my part) that would allow MJ to pay off the remaining debt under the LLC if he so chose to. It seems like a holding company to me...
 
and the liens against the property
Click to expand...
which lein cause all tax leins were paid off long ago.

I would say that the deed is under Sycamore LLC.
Click to expand...
the ownership of the house?
and the debt was paid off as apart of the sale ie colony give mj 35 mill and they pay/take on the debt themselves which they will pay off by doing something with the ranch and mj gets a % of the money they make and has some sort of control over the place?
 
FYI: In case some of you are stuck in this thread refreshing the page and haven't ventured out, MJ has sent 2 messages over the past couple of days to Fans. It's in today's news thread. :flowers: For anyone who is sad about any of this, the messages might perk ya up a bit. Go see. :D
 
just seems strange that the company is called Sycamore Valley Ranch, exactly what Neverland was prior to Michael buying it?
Click to expand...
i guess when they were sat around thinking of names for the new company someone just said why not use the original name of the place.

Let me also say that I think that this deal is structured (pure speculation on my part) that would allow MJ to pay off the remaining debt under the LLC if he so chose to. It seems like a holding company to me.
Click to expand...
sorry mello can u explain the significance of having an LLC and what u mean by a holding company
 
mello1 said:
Let me also say that I think that this deal is structured (pure speculation on my part) that would allow MJ to pay off the remaining debt under the LLC if he so chose to. It seems like a holding company to me...
Click to expand...

Right, it seems like a holding company, like those other big companies based in Delaware. I think what happened is that to clear his debt with Colony (debt bought from Fortress, just like MY mortgage has been sold to various companies and the payments continue), he gave up a percentage of ownership in the property. When the debt was cleared, he either got the remainder in cash, or in a percentage of ownership. Looks like it was in a percentage of ownership, as far as the available information indicates. It would be a lesser percentage than Colony, so he wouldn't necessarily have any voice in whatever happens to the property. It might or might not be some sort of "business venture," but probably designed to give him more cash liquidity as in, for example, if he wanted to buy extensive (and expensive) property elsewhere.

If he didn't intend to live there again, it didn't make sense for him to bleed money in paying staff, maintaining grounds, maintaining buildings, for a house that essentially was a gigantic storage facility for his STUFF? (And I'll just bet he's got a LOT of stuff!)

That's about as much as I can tell, given what's been available for public knowledge.

Carry on,

Victoria
 
ok so it means the debt to colony has been paid off.which is part of the deal to sell them (sycamore) the ranch.obviously the debt is paid if u sell the property for more than what the debt it
 
akonmj said:
I think the important part is the reconveyance

READ THIS http://www.wisegeek.com/what-is-reconveyance.htm

:):):):):)
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It is isn't it. ;D I mentioned it some pages back but without actually seeing the document, it's hard to determine if the document relates to a past lien that was recently removed or one that can be removed in future. If it's regarding one in the future then that would be quite interesting. If it's regarding a past lien that was satisfied in order to transfer the property to Sycamore, then it's meaningless.
 
Just learning abourt this development, but I just gotta say this....

Theres a time and place for everything, The era of Neverland has ended. What the place represented to Michael and a host of others is no more. No need to be disheartened, alot of negativity was attached to this mans home and I ultimately believe given the fact that Michael never returned there to live, made this decision a whole lot easier. As long as Michael was'nt living there, it no longer was the place that MJ envisioned.

His heart is where it should be, with his three children.

God bless his beautiful soul and all the best for whats to come next!
 
When the debt was cleared, he either got the remainder in cash, or in a percentage of ownership. Looks like it was in a percentage of ownership
Click to expand...
so what about the 35 mill?
 
thought that was the 23 mill (the debt) im lost and its late good night all lol
 
Ok he can or MAY be able to purchase the place back but why? why re-staff, put everything back, and open it back up?

there haven't been cows on the property for a few months and does anyone remember hearing about splitting the ranch property up and selling it as a bunch of different properties? i know i heard about that from somewhere...maybe that's what they plan on doing an mj would benefit.

mj didn't sell revolution to nike, i believe it was leased...lol he allowed them to use it and he got paid when it was played.
 
wendy2004 said:
It is isn't it. ;D I mentioned it some pages back but without actually seeing the document, it's hard to determine if the document relates to a past lien that was recently removed or one that can be removed in future. If it's regarding one in the future then that would be quite interesting. If it's regarding a past lien that was satisfied in order to transfer the property to Sycamore, then it's meaningless.
Click to expand...

http://66.102.9.132/search?q=cache:...ice.pdf+2006-0029252&hl=en&ct=clnk&cd=1&gl=uk
^^^^^^^^ Thats what MJ took back
 
elusive moonwalker said:
which lein cause all tax leins were paid off long ago.


the ownership of the house?
and the debt was paid off as apart of the sale ie colony give mj 35 mill and they pay/take on the debt themselves which they will pay off by doing something with the ranch and mj gets a % of the money they make and has some sort of control over the place?
Click to expand...

There are other liens, other than a tax lien. Having a mortgage is a lien of sorts. Also, I don't think we can say how MJ makes money off of the arrangement. It would appear to me that the LLC that he is a part of paid off the bank loan, which made the property free and clear.

I guess it's like if I paid off your mortgage. The bank doesn't really care where the money comes from, but legally, if the note is in your name, the deed goes to you.

Except if in agreeing to pay off your mortgage, we strike a side deal and I ask for the deed to be placed under this newly created company that we agree you will be a part of.

I mean, it's clear that MJ hasn't totally walked away from the property, but of course we just don't know the terms.

Also, I only mentioned this as being a holding company because it may be a way for MJ to eventually purchase the property back once his debt is cleared...
 
mello1 said:
There are other liens, other than a tax lien. Having a mortgage is a lien of sorts. Also, I don't think we can say how MJ makes money off of the arrangement. It would appear to me that the LLC that he is a part of paid off the bank loan, which made the property free and clear.

I guess it's like if I paid off your mortgage. The bank doesn't really care where the money comes from, but legally, if the note is in your name, the deed goes to you.

Except if in agreeing to pay off your mortgage, we strike a side deal and I ask for the deed to be placed under this newly created company that we agree you will be a part of.

I mean, it's clear that MJ hasn't totally walked away from the property, but of course we just don't know the terms.

Also, I only mentioned this as being a holding company because it may be a way for MJ to eventually purchase the property back once his debt is cleared...
Click to expand...

This sounds correct. My take on his retaining an interest in the property is in case he wants to buy the property, all of it, back someday. I can't really see it as an investment for him, but more that he wants to retain some sort of ownership. It's a HOUSE, outbuildings, and farmland (range-land?). To subdivide this beautiful, open land, would be truly, truly tragic. IMHO (runs off to support board!)

Vic
 
oh man ....so he sold it but has an interest of some sort in the property STILL? I only read the first page briefly and don't think I will be reading 29 more pgs. Do I have it right?
 
Mikejoefan said:
oh man ....so he sold it but has an interest of some sort in the property STILL? I only read the first page briefly and don't think I will be reading 29 more pgs. Do I have it right?
Click to expand...


That's it in a nutshell....for now. Stay tuned. Tomorrow it could be something completely different. :lol: All in all, the property issue is pretty much over with so Michael can move on and focus on the future.
 
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