By Aaron Miller-
A Tennessee judge has blocked a company’s attempt to auction off Elvis Presley’s(pictured) iconic former home, Graceland. The decision follows claims by Presley’s granddaughter, actress Riley Keough, that the proposed foreclosure sale was based on fraudulent grounds.
Shelby County Chancellor JoeDae Jenkins issued a temporary injunction to halt the planned auction, which was scheduled for Thursday this week. This ruling comes after Keough branded the foreclosure auction “fraudulent” and filed a lawsuit to stop it.
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‘The court will enjoin the sale as requested because, one, the real estate is considered unique under Tennessee law. And in being unique, the loss of the real estate would be considered irreparable harm,’ Jenkins said.
Jenkins added that the notary whose signature is on the Deed of Trust from 2018 said in a sworn affidavit that she did not notarize Lisa Marie Presley’s signature, WDTN reports.
Jenkins stated that this crucial piece of information brought into question the authenticity of the signature and of the Deed of Trust.
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Elvis’ granddaughter, actress Riley Keough, 34, who is the current owner of Graceland, has been challenging the sale with a lawsuit, claiming it is ‘fraudulent.’
Riley Keough became the sole owner and trustee of the Presley family estate after the death of her mother, Lisa Marie Presley, in 2023. This transfer of ownership followed a legal battle with her grandmother, Priscilla Presley.
Keough’s mother, Lisa Marie Presley, died in January 2023, aged 54.
In September that year, a company called Naussany Investments & Private Lending filed a lawsuit against Lisa Marie’s estate, alleging that when she died she had an outstanding $3.8m (£3m) loan owed to the company, and had used Graceland as collateral.
On 15 May, Keough filed a complaint in a Tennessee court claiming that Naussany’s claims were “fraudulent. Lisa Marie Presley never borrowed money from Naussany Investments and never gave a deed of trust to Naussany Investments”. The complaint also claims that the documents “purporting to evidence such a loan … are forgeries”.
The delay on the trial will now allow the other side to come up with a defense to the fraud claims made by Presley’s granddaughter Riley Keough.
A temporary restraining order on the sale was issued on Monday, as per Keough’s attorney, and an injunction hearing is set for Wednesday.
The foreclosure sale of the 13-acre Memphis estate was prompted by a public notice posted earlier in May, which stated that Promenade Trust, controlling the Graceland museum, owed $3.8 million after defaulting on a 2018 loan.
The legal notice alleged that Lisa Marie Presley had signed a Deed of Trust in 2018 to secure the loan through Naussany Investments and Private Lending, a Missouri-based company, using Graceland as collateral.
However, Keough’s lawsuit, filed on May 15, challenged the validity of these claims.
Elvis’s grandaughter: Riley Keogh
It asserts that her mother’s signatures on the loan documents were forged, that the loan never materialized, that Naussany Investments is a fictitious company, and that the loan’s notary public did not notarize the documents.
Elvis Presley Enterprises, which manages Graceland and the assets of the Elvis Presley Trust said in a statement to The Eye Of Media.Com: “Elvis Presley Enterprises can confirm that these claims are fraudulent. There is no foreclosure sale. Simply put, the counter lawsuit has been filed to stop the fraud,” a spokesperson said.
Elvis Presley purchased Graceland for £102,500 in 1957, the same year he released hits like “All Shook Up” and “Blue Christmas.” The legendary musician lived there until his death in 1977. Following his death, the estate was inherited by his daughter Lisa Marie and was opened to the public as a museum in 1982.
In the early 1980s, the 14-acre compound was opened to the public as a music history theme park. Today it attracts roughly 600,000 visitors a year, serving as a pilgrimage site for fans of one of America’s most significant musicians.
The ongoing legal battle and the judge’s recent injunction ensures that Graceland will remain under the stewardship of the Presley family, at least for the foreseeable future, as the court examines the validity of the foreclosure.
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