Supposedly, there's at least one proposal on the table to have Michael BURIED at Neverland . . . and to turn the place into another Graceland.

--This proposal has been put forth by a guy named Tohme Tohme. He was Michael's manager at one point, and he works with Colony Capital LLC, which holds the Neverland mortgage.

--There's no word how Michael's family feels about any of this. But at the same time, it's not really clear how much of that would be their call.

--Supposedly, Michael last updated his will in 2002, after his youngest son, "Blanket" was born. There's no word what provisions are in it . . . or if the family has even seen it yet.