Hot Property: Jane Fonda

Actress Jane Fonda poses for a portrait at the Four Seasons Hotel in Beverly Hills in May 2012. (Mel Melcon / Los Angeles Times)

Just in time for the elections, actress and political activist Jane Fonda and music producer Richard Perry have sold their house in Hollywood Hills West for $8.5 million.

The traditional-style home was built in 1942 for actor Ronald Reagan and his first wife, actress Jane Wyman, according to Ronald Reagan Presidential Library archives.

The five-bedroom, eight-bathroom main house, a swimming pool, a Balinese-style pool house and a tennis court sit on the three-quarter-acre view lot.

Fonda, 74, won an Oscar in 1972 for her work in "Klute" and another in 1979 for "Coming Home." She has protested the Iraq and Vietnam wars and advocated for women's rights.

The actress is in line for a comedy series in the works at ABC called "Now What?" Fonda will play First Lady Nancy Reagan in "The Butler," a movie due out next year.

Perry, 70, has produced albums for such singing stars as Rod Stewart and Carly Simon. Fonda and Perry started dating several years ago and recently bought a house in the Trousdale Estates area of Beverly Hills.

Jade Mills of Coldwell Banker's Beverly Hills South office and Dena Luciano of Keller Williams in Hollywood Hills were the listing agents. Branden Williams and Rayni Romito of Hilton & Hyland represented the buyer.

Includes a polo, not political, arena

A 30-acre equestrian property that was once part of ranch land owned by Ronald and Nancy Reagan when he was California governor is on the market in Murrieta's Tenaja Valley at $3.9 million.

The spread includes a five-acre seasonally fed lake, a lakeside house, a regulation-size polo field with two grandstands, an eight-acre pasture, nine corrals, three wells and a 2,750-square-foot barn with skylights. The 1,500-square-foot house, built with stones from the site in 1996, features two bedrooms and two bathrooms.

The property is part of more than 750 acres the Reagans bought in the area in the late 1960s and sold more than a decade later.

Anne Sturm of Tarbell Realtors is the listing agent.

Exorcising ghosts in Beverly Hills?

Actor-screenwriter Billy Bob Thornton has listed his mansion in Beverly Hills for sale at $9.995 million.

Built in 1929, his 11,012-square-foot Spanish-style house features a two-story living room, a recording studio, a gym, a library, nine bedrooms and eight bathrooms. The walled and gated lot of more than a half-acre includes a swimming pool, a spa, fountains and a paddle tennis court.

Thornton bought the property with his then-wife Angelina Jolie in 2000 for $3.75 million from former Guns N' Roses guitarist Slash (Saul Hudson), according to L.A. Times archives.

Thornton, 57, directed, wrote and starred in the movie "Sling Blade" (1996), for which he won a best screenplay adaptation Oscar. He subsequently appeared in "The Apostle" (1997), "Armageddon" (1998) and "Pushing Tin" (1999). This year, he directed, co-wrote and appears in "Jayne Mansfield's Car."

The blues singer-songwriter, who has released several albums, is the author of "The Billy Bob Tapes: A Cave Full of Ghosts," published this year.

Kurt Rappaport of Westside Estate Agency is the listing agent.