Judge orders a pause on foreclosing sale to Elvis Presley’s legendary Graceland

A Memphis judge called for a halt in the sale for foreclosure of Elvis Presley’s famous Graceland residence in a brief hearing held on Wednesday morning. Chancellor…

By Ronny Reyes

May 22, 2024 03:33 PM

A Memphis judge ordered a pause on the foreclosure sale of Elvis Presley’s iconic Graceland home in a brief hearing Wednesday morning.

The Chancellor JoeDae Jenkins ruled that the house could remain in the ownership by the Presley family at present and there was evidence that documents giving an entity the power to sell the property could be fake.

Naussany Investments and Private Lending LLC was looking to auction Graceland and the property around it within Memphis, Tennessee, to the highest bidder on Thursday.

They claim that they had lent $3.8m towards Lisa Marie Presley, Elvis the only daughter of Elvis, prior to the time of her demise in January of this year. The estate was later transferred to her daughter Riley Keough.

Jenkins confirmed Wednesday that the sale should be delayed until there is proof of who is the owner of the King of the Rock and Roll’s home A premature decision will cause immense damage to the family of Presley.

“The estate is considered unique under Tennessee law, and in being unique the loss of the real estate will be considered irreparable harm,” Jenkins declared.

Keough filed an action on May 15 seeking to stop the sale, claiming that documents that named Naussany as the owner of the property were “fraudulent.”

The company says Lisa Marie signed a deed of trust in the year 2018 that made use of Graceland to secure collateral.

Lisa Marie’s mother, as well as Elvis’s ex-wife Priscilla Presley, also denied the claim of the company, blasting the claim for being “a scam” on social media.

Keough stated in her 60-page suit that her mother never borrowed money from Nassauny and the notary public confirming that they niether notarized any document Lisa Marie had supposedly signed.

Jenkins stated that the affidavit signed by the notary public is sufficient to stop the foreclosure sale until Nassauny can prove that it took loans, that they weren’t repayable and that the estate was sold as collateral.

The judge, however, suggested that the outcome would ultimately be in favor of Keough and told Keough she’s “successful” as long as her defense team is able to confirm the affidavit provided by the notary during a future hearing.

The attorneys for Naussany were not immediately available for a response.

Graceland is a landmark throughout Memphis since Elvis purchased the estate in 1957 for $102,500. the year in which he also came out with the hits “Blue Christmas” and “All Shook Up.”

The estate covers 13.8 acres The estate, preserved in the same way it was at the time Elvis died in 1977 -draws thousands of people every year who visit to commemorate his legacy. Elvis.

Graceland will also serve as the burial spot of “The King of Rock ‘n’ Roll’ and his family, including His parents Lisa Marie and her son Benjamin who committed suicide in the year 2020.

The mansion, which was built in 1939, is named in honor of the aunt of Ruth Brown Moore Grace Toof.

Lisa Marie inherited Graceland in Elvis Will and Graceland was became open in the open to visitors as museum in 1982. Following her death in January 2023 Riley was named the only inheritor.

Priscilla the 78-year-old has also made it clear that she would like to be interred with her former husband when she dies.