UPDATE: The sale of Graceland is on hold. Elvis Presley’s granddaughter has halted the Graceland foreclosure auction through legal filings.
Actress Riley Keough was granted control of Elvis Presley’s mansion after her mother Lisa Marie Presley died last year. A Tennessee judge ruled that the company trying to sell it likely committed fraud.
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Elvis Presley’s granddaughter, actress Riley Keough, is fighting the court-approved sale of Graceland, the late singer’s compound in Memphis, Tennessee.
Keough, identified in the court filing as Danielle Riley Keough, filed a claim in Tennessee civil court that alleges the creditor behind the foreclosure claim used forged signatures. According to an apparent foreclosure notice, Graceland had been set to be auctioned off at the Shelby County courthouse in Memphis, Tennessee, on Thursday this week, however court documents show that a Memphis judge blocked the sale after Keough sought a temporary restraining order and filed a lawsuit.
The foreclosure allegedly occurred after Elvis’ daughter, the late Lisa Marie Presley, used Graceland as collateral to secure a $3.8 million loan from a company called Naussany Investments and Private Lending in 2018, but she failed to pay it off before she died last year. Keough was granted virtual control of Graceland Mansion and much of Elvis’ estate after her mother, Lisa Marie Presley, died. She alleges in the suit that the creditor’s paperwork on a $3.8 million loan to Graceland trustees, with a deed of trust on the compound pledged as collateral, is fraudulent. Keough claims in the lawsuit that Naussany Investments “appears to be a false entity created for the purpose” of defrauding her family. The lawsuit also says Keough’s mother “never borrowed money” from the company, or gave them a deed of trust to Graceland, and further alleges that documents claiming otherwise “are forgeries.” The suit alleges the foreclosure sale would thus be “non-judicial” and based on lien paperwork that violates Tennessee law.
In a statement, Elvis Presley Enterprises, the entity that runs Graceland and the assets of the Elvis Presley Trust, suggested the sale is a scheme: “Elvis Presley Enterprises can confirm that these claims are fraudulent. There is no foreclosure sale. Simply put, the counter lawsuit has been filed is to stop the fraud.” According to CBS affiliate in Memphis WREG, an attorney for Keough says a temporary restraining order was granted Monday. A judge will consider Keough’s court filing in a hearing on Wednesday.
Built in 1939, Graceland Mansion was purchased by Elvis in 1957, where he lived until his death in 1977. Five years later it was opened to the public as a music history theme park, where it currently attracts roughly 600,000 visitors a year, according to the venue. Graceland was named to the American National Register of Historic Places in 1991; it is also the final resting place for Elvis and his daughter, Lisa Marie.
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