Beyonce and Jay-Z want to buy Neverland

Beyonce Jay-Z NeverlandSinger Beyonce and her husband Jay-Z are planning to buy Neverland, the famous ranch in California where Michael Jackson lived, valued at approximately $29 million, according to rumors from international media, reports femalefirst.

Beyonce and her husband visited this property in Santa Barbara, accompanied by its current owner, Thomas Barack Jr., according to British tabloid The Sun. The Neverland Ranch – named after the magical island of children’s story “Peter Pan” – is the residence in which the former “King of Pop” lived between 1988 and 2005, but the property was abandoned after the star’s death in 2009.

Michael Jackson, who died from acute Propofol intoxication in 2009, bought the farm of 3,000 acres (12.14 hectares) in 1988, back when he was at the peak of his career. The famous American singer made several changes, including adding a train, a zoo and an amusement park. The facilities needed repairs after the star began to have financial problems. Although Neverland ranch was sold in 2008 to the investment group Sycamore Valley Ranch Company, Jackson’s three children – Prince, aged 15, Paris, aged 14, and Blanket, aged 10 – and also star’s mother, Katherine Jackson, still own a part of the property.

Beyonce, aged 31, and Jay-Z, aged 43, live most of the time at the rapper’s residence in New York with their daughter Blue Ivy, aged 13 months, but also spend a few weeks in the singer’s hometown, Houston, Texas.

Michael Jackson died at the age of 50, on June 25, 2009, following a “serious poisoning” with propofol, a powerful anesthetic used in hospitals and medical clinics that the pop star used as a sleeping pill at home, with the complicity of doctor Conrad Murray.

Found guilty of involuntary manslaughter, doctor Conrad Murray was sentenced in November 2011 to four years in prison. According to U.S. media, Conrad Murray could be released after serving two years of that sentence, due to overcrowding of the prison system in California.