EXCLUSIVE: Lawsuit Filed Against Jackson Estate

Posted on Oct 09, 2009 @ 02:41PM

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It's another day, another claim against the Michael Jackson estate.

William Bone is suing the Jackson estate for an undisclosed amount over the proposed sale of a Santa Barbara property known as the Sycamore Valley Ranch.

Inside Michael Jackson's Funeral

Bone claims Jackson wished to buy the property from him but they could not agree on fair market value therefore to consummate the deal an agreement of purchase was entered into on or about February 27th 1988.

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Meaning, Bone accepted a lower selling price than he thought the property was worth with the agreement that when the property was resold Jackson would split the profits with him.

Another stipulation of the agreement was that Jackson would maintain the property and carry out improvements as needed, something Bone believes has not happened.

PHOTOS: Inside Michael Jackson's Funeral

Bone claims that Jackson transferred ownership of the property to Sycamore Valley Ranch Company on November 10, 2008 and that he was not informed. He now asks that he receive his share of the profits when the property is sold, as he believes will happen.

Zuma Press

Comments

This is disgusting! Where do all these people come from? Michael was intentionally murdered! This-is-not-it dot com and it goes much deeper than Conrad Murray.

by truth4mjj
Posted Wed, 10/14/2009 - 10:16am

Can't believe that you failed to mention that the Sycamore Valley Ranch was the original name of Neverland, when Michael Jackson purchased it in 1988!

by WindyCityCitizen
Posted Tue, 10/13/2009 - 6:35am

people who want to Neverland and the catalogs behind this bunch of opportunistic collectors? (I include it Mottolla, Tohme, etc.)
How many more will appear to borrow the family the way they did with MJ to force them to unload the goods and sell?

by izilda pomelli
Posted Fri, 10/09/2009 - 7:30pm