No foreclosure: Graceland can remain in the hands of Elvis Presley’s family, a court has now decided.
New developments in the Graceland case: The iconic property of Elvis Presley (1935-1977) is said to have been about to be foreclosed on, against which his granddaughter Riley Keough (34) had sued. It was determined at a hearing in Shelby County, Tennessee District Court on Wednesday (May 22) that Thursday’s foreclosure of Graceland would cause “irreparable harm” to Elvis’ granddaughter and was therefore averted. Another hearing should clarify who is the legal owner of the property.
There is said to be a fraud behind the forced sale, which was actually scheduled for May 23rd. Keough filed a lawsuit in May alleging that a possibly non-existent company called Naussany Investments & Private Lending LLC last year produced documents purporting to prove that Keough’s late mother, Lisa Marie Presley (1968 -2023) borrowed $3.8 million from the company and designated Graceland as collateral in a trust agreement. “These documents are forged,” the lawsuit states. “Lisa Marie Presley never borrowed money from Naussany Investments and never gave a deed of trust to Naussany Investments.”
Graceland continues to operate
The fact that there is now an interim injunction against the planned auction. In a statement, Graceland and Elvis Presley Enterprises told the BBC: “As the court has now made clear, the claims were without merit. There will be no enforcement.” Graceland, which is open to the public, will continue to operate as it has for the past 42 years “to ensure that Elvis fans from around the world can continue to have a wonderful experience when they visit his iconic home.” As the Reuters news agency reports, Naussany Investments & Private Lending confirmed upon request that the company would withdraw all of its claims to Graceland after Wednesday’s court hearing.
Keough inherited Graceland and much of Presley’s estate after her mother, Lisa Marie Presley, died last year.
Source: Stern
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
