Yahoo News Judge Rules to Stop the Sale of Graceland
Update, 5/22/24: A Tennessee judge has halted the Graceland sale, saying in a ruling, "The estate is considered unique under Tennessee law, and in being unique the loss of the real estate will be considered irreparable harm."
Following the decision, Graceland said in a statement, "As the court has now made clear, there was no validity to the claims. There will be no foreclosure. Graceland will continue to operate as it has for the past 42 years, ensuring that Elvis fans from around the world can continue to have a best in class experience when visiting his iconic home."
Original, 5/21/24: Elvis Presley's granddaughter Riley Keough is fighting the "fradulent" sale of Graceland, the estate where Elvis lived in Memphis, Tennessee.
Keough, who inherited Graceland upon the death of her mother Lisa Marie Presley, has sued to stop the foreclosure sale initiated by Naussany Investments—alleging that one, Naussany doesn't exist and two, it has no rights to sell the property, per CNN.
Her lawsuit states that last year "Naussany Investments & Private Lending LLC presented documents purporting to show that Lisa Marie Presley had borrowed $3.8 million from Naussany Investments and gave a deed of trust encumbering Graceland as security." Keough's lawsuit alleges these documents are "fraudulent" and that her mother "never borrowed money from Naussany Investments and never gave a deed of trust to Naussany Investments."
Elsewhere in the suit, it alleges Naussany Investments is "not a real entity" and "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."
Elvis Presley Enterprises, which manages Presley's estate, backs up Keough's claim that Naussany's attempts to sell Graceland is fraudulent. "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," they said in a statement.
Meanwhile Priscilla Presley, Elvis's ex-wife and Keough's grandmother, posted a photo of Graceland on her Instagram with the text "It's a Scam!"—referring to the sale of the property.
You Might Also Like
