Tennessee judge makes decision on sale of Elvis Presley’s Graceland home
After actor Riley Keough filed a lawsuit to protect her grandfather Elvis Presley’s Graceland property, which was set to be auctioned on May 23rd, a Tennessee judge has reached a verdict on the sale.
On May 22nd, a day before the proposed sale, Shelby County Chancellor JoeDae Jenkins has agreed to grant a temporary injunction to prevent the property from being sold on May 23rd. Jenkins made the decision after Keough’s lawsuit claimed the reasons for the auction was “fraudulent”, which will now be investigated.
Keough is now the heir to the Presley estate and the trustee of the Promenade Trust following the death of her mother, Lisa Marie Presley, in 2023. Through the trust, she is hoping to thwart Naussany Investments & Private Lending LLC from selling the piece of musical history in a non-judicial sale.
Naussany Investments & Private Lending LLC claim they have grounds to advance with selling Graceland, stating Lisa Marie borrowed $3.8million from the company and used the property as collateral if she was unable to pay back the money.
In a 60-page suit, Keough alleges: “The purported note and deed of trust are products of fraud and those individuals who were involved in the creation of such documents are believed to be guilty of the crime of forgery.”
The Daisy Jones and the Six star was granted a temporary restraining order against Naussany Investments & Private Lending LLC following the lawsuit and also questioned whether they were “a real entity”.
The lawsuit includes a document that shows the loan made by Lisa Marie from Naussany Investments & Private Lending LLC, but claims Presley’s signature was forged which the legal representatives state stops the loan from being a legal document.
The legal letter states: “On information and belief, Naussany Investments & Private Lending LLC is not a real entity. Naussany Investments & Private Lending LLC appears to be a false entity created for the purpose of defrauding the Promenade Trust (the trust of Keough and formerly of Lisa Marie Presley), the heirs of Lisa Marie Presley, or any purchaser of Graceland at a non-judicial sale.”
Due to the scale of the allegations made by Keough, who is claiming that fraudulent activity took place, the local authorities will now examine the validity of these remarks. Furthermore, Jenkins also noted how this case is in the public interest due to the importance that Graceland has on the local community and its status as a tourist attraction.
After Keough filed the lawsuit, she was publicly supported by Elvis Presley Enterprises, an entity that controls Graceland and the Elvis Presley Trust. They said in a statement: “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.”
Presley purchased Graceland in 1957 while at the height of his fame and lived there until his passing in 1977. Following his death, it turned into a museum in 1982, honouring the legacy of ‘The King’ and has grown into one of the most notable tourism hubs in America with 600,000 fans making the journey to Graceland on an annual basis.
At this stage, it remains unknown how long it will take the Tennessee authorities to complete. the investigation.
This is a developing story.
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