Michael Jackson, who had gone into default on the $24.5 million Neverland ranch, transferred the deed to a company he partially controls Monday. The company, Sycamore Valley Ranch Co. LLC was a joint venture between Jackson and an affiliate of Colony Capital LLC. What will become of the 2,500-acre property in Santa Barbara’s wine country? No one has said yet.

Recent photos show that the ranch is falling into disrepair. Jackson has not stayed there since he was acquitted of his 2003 charges of molesting a 13-year-old boy. Ever since his arrest, Jackson’s financial status has begun to crumble, just like his abandoned zoo, ferris wheel, and roller coasters. Not to mention his dignity.