Graceland isn’t to be sold Graceland is not for sale, Elvis Presley’s daughter Riley Keough says in lawsuit
The grandchild of Elvis Presley is fighting plans to sell the Graceland estate located in Memphis following a firm’s attempt to market the estate on the claim that a loan that used it as collateral wasn’t paid back.
By ADRIAN SAINZ Associated Press
May 21, 2024 03:10 PM
MEMPHIS, Tenn. — Riley Keough, the granddaughter of Elvis Presley, is fighting plans to publicly auction his Graceland estate in Memphis after a company tried to sell the property based on claims that a loan using the king of rock ’n’ roll’s former home as collateral was not repaid.
An auction of the estate was planned for this Thursday however the auction was halted by a Memphis judge halted the sale following Keough requested an order of temporary restraining and filed a suit, court records indicate.
A notice of a foreclosure sale on the estate of 13 acres that was posted earlier in May stated that the Promenade Trust, which controls the Graceland museum, is owed $3.8 million for failure to pay back a loan from 2018. Keough took over the trust as well as the house after the passing of her mother Lisa Marie Presley, in the year prior. Lisa Marie Presley had used Graceland as collateral for her loan, according to the lawsuit.
Naussany Investments and Private Lending claimed that Lisa Marie Presley failed to repay the loan and wanted for the sale of her estate via the courthouse steps, as per the notice of foreclosure. Keough on behalf of the Promenade Trust, sued last week, alleging Naussany provided false documents about the loan as well as an unpaid amount in the month of September 2023.
“These documents are fraudulent,” Keough’s lawyer stated in a lawsuit. “Lisa Maria Presley never borrowed money from Naussany Investments and never gave a deed of trust to Naussany Investments.”
W. Bradley Russell, a lawyer for Naussany Investments, declined comment on Tuesday.
Kurt Naussany, who was named on court records as defendant sent questions via email addressed to Gregory Naussany. Gregory Naussany told The Associated Press in an email: “The attorneys can make comment!”
An injunction hearing has been scheduled for Wednesday, in Shelby County Chancery Court.
“Elvis Presley Enterprises has confirmed that these claims are false. There isn’t a foreclosure sale. In simple terms, the reason why the reason why the counter-suit was brought to stop the scam,” Elvis Presley Enterprises Inc. stated in an announcement on Tuesday.
Graceland was established as a tourist and museum attraction in the year 1982 to pay celebration of Elvis Presley, the singer and actor who passed away in the month of August 1977, aged 42. It is visited by many thousands of tourists every year.
