The historic mansion where Elvis once lived will remain in the hands of the Presley family after Elvis’ granddaughter, actress Riley Keough, filed a lawsuit accusing the company of trying to sell the property. There is fraud.
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The president of a Tennessee court ruled Wednesday that Graceland is exempt from the auction for now.
The historic property where Elvis Presley lived for 20 years was scheduled to be held at a foreclosure auction on Thursday, but during a court hearing Wednesday, Finance Minister JoeDae Jenkins said that once it was clear who Who will make the final decision on the home’s future at a later hearing.
According to multiple reports, actress Riley Keough, the eldest daughter of Lisa Marie Presley and the only granddaughter of Elvis, died earlier this month A lawsuit was filed in an attempt to block Graceland’s sale.
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Wednesday’s hearing determined that the estate’s auction would cause irreparable harm to Keogh, who took ownership of the estate and tourist attraction last year. CNN the report said.
“Under Tennessee law, the estate is considered unique, and because of that uniqueness, the loss of the property would be considered irreparable harm,” Jenkins said.
Court documents filed by Keough’s attorneys allege that the company trying to put the legendary mansion and tourist attraction up for auction fraudulently claimed that Lisa Marie Presley, who died in 2023, borrowed the money and sold it as Grace Lan as collateral. Court documents say the company involved, Naussany Investments & Private Lending LLC, “appears to have a false identity” and that documents related to the loans were fraudulent.
Naussany Investments filed a notice of foreclosure sale in Tennessee on May 19, 2024, claiming Lisa Marie Presley defaulted on a $3.8 million loan the company made to her. After she defaulted, the group said it took ownership of the home and will sell it to the highest bidder on Thursday.
“Elvis Presley Enterprises can confirm that these claims are fraudulent,” the group that manages Graceland said in a statement. “A countersuit has been filed to stop the fraud.”
Tennessee’s Shelby County Chancery Court last week issued a temporary restraining order against Keough ahead of Wednesday’s hearing.
Graceland Living Room | Photo Credit: Terry Wagner/Wikimedia Commons
Months after the death of Lisa Marie Presley, Naussany Investments disclosed documents claiming She borrowed $3.8 million from the company and “provided a deed of trust placing Graceland as security.” New York Times.
The promissory note associated with the debt appears to have been notarized in Florida in 2018, but the notary named on the document recently signed an affidavit stating that she “never met Lisa Marie Presley nor Documents signed by Lisa Marie Presley have never been notarized.
efforts made New York Times and wall street journal Efforts to contact Naussany Investments by phone and email were unsuccessful, and a phone number associated with the company was no longer in service. The Jacksonville, Florida, address associated with the organization is a UPS store.
After the death of Lisa Marie Presley last year, Keough, who starred in Daisy Jones and the SixEngaged in a legal battle with her grandmother, Priscilla Presley, to become sole trustee of the Promenade Trust established by her mother in 1993. to over $100 million, but Lisa Marie Presley also suffered losses of over $3. This forced her to sell 85% of Elvis Presley Enterprises. However, it is unclear who the debt is owed to.
Despite financial difficulties, Lisa Marie Presley managed to keep Graceland in her family. The Colonial Revival was Ives’ home from 1957 until his death in 1977. an exhibition center and a 450-room hotel. The mansion brought in at least $80 million in 2022, much of it supporting Elvis Presley Enterprises.
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