Court halts foreclosure auction of Elvis Presley’s Graceland | US News
A judge has halted the auction of Elvis Presley’s former residence, which was scheduled by a company claiming that his estate had not repaid a loan using the property as collateral.
Shelby County Chancellor JoeDae Jenkins issued a temporary injunction against the planned auction of Graceland set for Thursday.
Mr Jenkins’ injunction effectively maintains a previous restraining order he had issued after the singer’s granddaughter Riley Keough filed a lawsuit to contest what she believed to be a fraudulent scheme.
A public notice for a foreclosure sale of the 13-acre estate in Memphis, Tennessee, posted earlier in May stated that Promenade Trust, which oversees the Graceland museum, owes $3.8m (£3m) after failing to repay a loan taken out in 2018.
Elvis Presley
Keough, an actor, inherited the trust and ownership of the home after the passing of her mother, Lisa Marie Presley, last year.
Naussany Investments and Private Lending alleged that Lisa Marie Presley had used Graceland as collateral for the loan, according to the foreclosure sale notice.
Keough claimed that Naussany submitted fraudulent documents concerning the loan in September 2023.
Neither Keough nor attorneys for Nassauny Investments were present in court.
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Riley Keough Pic: AP
“Lisa Maria Presley never borrowed money from Naussany Investments and never gave a deed of trust to Naussany Investments,” Keough’s lawyer stated in the lawsuit.
Kimberly Philbrick, the notary listed on Nassauny’s documents, claimed that she never met Lisa Marie Presley nor notarized any documents for her, according to the court filing.
Graceland was opened as a museum and tourist attraction in 1982 as a tribute to Elvis, following the King of Rock n Roll’s death at age 42 in 1977.
Elvis purchased Graceland Mansion in 1957 and resided there until his passing.
It now attracts hundreds of thousands of visitors yearly, and an expansive Elvis-themed entertainment complex across from the museum is owned by Elvis Presley Enterprises.
