Jackson to lose Neverland Ranch?

Michael Jackson will lose his Neverland Ranch in 90 days if he doesn't pay back a $23 million loan, say reports.

According to Fox News, legal papers were filed under the title 'Notice Of Default And Election to Sell at the start of last week in Santa Barbara County.

The singer was reportedly put on notice after defaulting on his loan with Fortress Music Trust, which was supposed to have been paid on October 12.

His California home is currently unoccupied as he is renting and living at a property in Washington DC.