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Michael Jackson remains in default on his fabled Neverland Ranch but he won't have to part with it - at least until the middle of May.
The ranch in central California's wine country had been scheduled to be sold at auction this week to satisfy Jackson's US$24.5 million ($30 million) debt on the property. Julie Wagner of Financial Title Company of San Francisco, which filed the default papers, says the auction has been postponed until May 14 by "mutual agreement."
Jackson attorney L. Londell McMillan says the entertainer worked out a confidential agreement with Fortress Investment Group LLC. Fortress Investment declined to comment.
