Homeentertainment newsLegal battle ensues over Elvis Presley's Graceland estate

Legal battle ensues over Elvis Presley’s Graceland estate

Film star Riley Keough, Elvis Presley’s granddaughter, is opposed to efforts to auction his Graceland estate in Memphis. This dispute arose after a company attempted to sell the property, alleging that a loan secured with the former home of the rock ‘n’ roll icon as collateral had not been repaid.

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A Memphis judge halted the planned public auction of the estate this Thursday, according to court documents. This decision came after Keough requested a temporary restraining order and initiated a lawsuit.

A public notice from earlier in May announced a foreclosure sale for a 13-acre property, revealing that Promenade Trust, the entity managing the Graceland Museum, is in debt for $3.8 million after defaulting on a loan from 2018.

Keough came into possession of the home and its trust after the passing of her mother, Lisa Marie Presley, last year. According to the lawsuit, Lisa Marie Presley had used Graceland as security for the loan.

Naussany Investments and Private Lending accused Lisa Marie Presley of failing to repay her loan and aimed to auction off her estate at the courthouse, as stated in the foreclosure notice. Representing the Promenade Trust, Keough filed a lawsuit last week alleging that Naussany submitted fraudulent documents concerning the loan and the outstanding amount in September 2023.

Keough’s attorney stated in a lawsuit: “Lisa Maria Presley neither received a loan from Naussany Investments nor provided a trust deed to them.”

Kimberly Philbrick, the notary named on the documents, stated in the court filing that she neither met Lisa Marie Presley nor notarized any documents for her.

The Associated Press reached out to Philbrick at phone numbers thought to be hers, but she did not reply immediately.

W. Bradley Russell, Keough’s attorney, did not provide any comments on Tuesday.

Kurt Naussany, named as a defendant in court papers, forwarded inquiries via email to Gregory Naussany. Gregory Naussany responded to the AP in an email, stating, “The lawyers can provide remarks!”

A court session to discuss the injunction is set for Wednesday at Shelby County Chancery Court.

Elvis Presley Enterprises stated on Tuesday that the allegations are baseless. They affirmed that there is no foreclosure sale and mentioned that the countersuit was filed to prevent deception.

Elvis Presley'
“Iconic singer Elvis Presley, forever etched in music history.”

Graceland was transformed into a museum and tourist destination in 1982 to honor Elvis Presley, the iconic singer and actor who passed away in August 1977 at the age of 42. It attracts hundreds of thousands of visitors annually.

Sarah Brumfield, based in Silver Spring, Maryland, and Heather Hollingsworth, from Mission, Kansas, also reported on this story.

The updated information clarifies that Russell represents Keough as a lawyer, rather than Naussany Investments.

Frequently Asked Questions

Is Riley Keough selling Graceland?

Elvis Presley’s granddaughter, Riley Keough, has filed a lawsuit claiming that Graceland is not for sale. Elvis Presley’s granddaughter is contesting plans to publicly auction off his Graceland residence in Memphis. A corporation tried to sell the property because a loan using it as security had not been repaid.

Why is Graceland foreclosing?

The foreclosure is supposedly taking place because Elvis’ daughter, Lisa Marie Presley, used Graceland as collateral to acquire a $3.8 million loan from a business named Naussany Investments and Private Lending in 2018, but failed to repay it before her death last year.

Who is Naussany Investments & Private Lending LLC?

“Naussany Investments & Private Lending LLC appears to be a false entity created to defraud the Promenade Trust, the heirs of Lisa Marie Presley, or any purchaser of Graceland at a non-judicial sale,” according to the document.

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