Elvis Presley’s Granddaughter Fights Graceland Foreclosure Auction
on May 21, 2024
Elvis Presley’s granddaughter is responding to the news that his Graceland estate will be auctioned off to the public.
Graceland Faces Foreclosure
According to a legal notice, Graceland, Elvis Presley’s famous home in Memphis, Tennessee, will be sold at a foreclosure sale this Thursday. However, Presley’s granddaughter, actress Riley Keough, is now caught up in a legal battle, saying that the foreclosure claims are fake.
Riley inherited the iconic mansion and much of Presley’s estate after her mother, Lisa Marie Presley, passed away last year. The legal notice claims that Lisa Marie used Graceland as collateral to secure a $3.8 million loan with a Missouri company called Naussany Investments and Private Lending. The company says Lisa Marie never repaid this loan before her death, resulting in the foreclosure of the mansion.
Riley Keough Takes Legal Action
In response, Riley has filed a 60-page lawsuit against Naussany Investments, saying her mother never borrowed money from them. She alleges the loan paperwork is fraudulent and that Lisa Marie’s signature was forged.
Riley says the company’s claims are based on fake documents and that Naussany Investments is not a real company. She also argues that the proposed sale would be “non-judicial” and that the paperwork breaks Tennessee law.
Naussany Investments has remained silent on the matter, but officials from Graceland have spoken out, stating, “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.”
According to court documents, a hearing about the case is scheduled to take place on Wednesday.
Elvis Presley bought Graceland in 1957 and resided there until he passed away twenty years later. Lisa Marie Presley inherited the property after her father’s death in 1977, and it was opened to the public as a museum in 1982 in tribute to the King of rock and roll. After Lisa Marie passed away in January 2023, her daughter, Riley Keough, became the estate’s heir and the trustee of the Promenade Trust.
