The Associated Press is reporting that pop star Michael Jackson has transferred the deed to his Neverland Ranch in Los Olivos, Calif., to a company he partly owns. Jackson had gone into default on the $24.5 million he owes on the property and had faced foreclosure before Colony Capital LLC bailed him out earlier this year by purchasing his loan. On Monday, Jackson transferred the title of the ranch to Sycamore Valley Ranch Company LLC. But Jackson may effectively still own the property, since Sycamore Valley Ranch is a joint venture between Jackson and an affiliate of Colony Capital. See the AP story here.