Michael Jackson [ tickets ] made a last minute deal this week to refinance his Neverland Ranch in Los Olivos, CA, which was scheduled to be auctioned Mar. 19. Jackson, who had gone into default on the $24.5 million he owes on the 2,500-acre fairytale property, reportedly worked out a confidential agreement with lenders that would allow him to retain ownership.

Jackson has not lived at the ranch--which is outfitted with a zoo and amusement park rides--since his acquittal on child molestation charges in 2005. Since he left, the exotic animals have been removed and the ranch is said to have fallen into disrepair.

There was no word on Jackson's plans for the property. Residents of the small town say rumors of its imminent sale have been rampant for months, according to published reports.