The singer has filed a grant deed on the ranch that makes the new owner an entity called the Sycamore Valley Ranch Co. LLC, a joint venture between Jackson and an affiliate of Colony Capital LLC.
It is now not clear what will happen to the 2,500-acre property in the bucolic, oak-studded hills of Santa Barbara County's wine country, 120 miles northwest of Los Angeles in California.
The move comes after Jackson had gone into default on the $24.5 million he owes on the property and had faced foreclosure before Colony Capital bailed him out earlier this year by purchasing his loan.
Jackson has struggled to pay his debts since his financial empire began to crumble following his arrest in 2003 on charges that he molested a 13-year-old boy at the ranch. He has not been seen in the Los Olivos area since a jury acquitted him of all charges, and recent aerial photos show the ranch falling into disrepair.
Tom Pearson of the Santa Barbara County clerk-recorder's office said that the deed did not indicate who actually owns Sycamore.
A listing on the California secretary of state's Web site says the company filed with the state in June. It does not identify its owners, but the company has the same Century City address as Colony Capital LLC.
Colony Capital is a Los Angeles-based real estate investment company run by billionaire Tom Barrack. It owns several properties in Las Vegas, including the Las Vegas Hilton.
Neverland was called Sycamore Valley Ranch before Jackson bought it in 1988 and began turning it into a miniature amusement park with a zoo, Ferris wheel, roller coaster and other rides.
He renamed the ranch after the mythical land of Peter Pan and set about creating the magical childhood experiences he said his career as a child star had denied him. At the height of his popularity, the superstar invited thousands of children to play in the grounds.
'It's like stepping into Oz. Once you come in the gates, the outside world does not exist,' he was quoted as saying.