The foreclosure detail and default information said Jackson owed US$23.2 million on a US$23 million loan on the property, which he abandoned after his 2005 trial and acquittal on child sex abuse charges.
"Contrary to published reports, Mr Jackson was never in default of the loan. Mr Jackson is in the final stages of refinance and will not lose Neverland Valley Ranch," Bain said in a statement.
Bain said Jackson refinanced Neverland in 2006 and that the loan had matured in October 2007. He is now refinancing again.
Jackson, 49, shuttered Neverland after his trial and lived in Ireland, Dubai, Bahrain and Las Vegas. He gave his first US magazine interview in a decade this month to the African-American monthly Ebony, which said he was now living on the East Coast.
Jackson flew to Los Angeles on Thursday to attend the 66th birthday celebrations of civil rights leader Jesse Jackson, who became the pop singer's "spiritual adviser" during the 2005 trial.
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