Graceland auction halted after Elvis Presley granddaughter's push for injunction
A company claims that Lisa Marie Presley took out a $3.8 million loan but never paid it back having put the Graceland estate up as collateral
By Michael Dorgan Fox News
Published May 22, 2024 10:30am EDT | Updated May 22, 2024 11:21am EDT
A Tennessee court has halted the Thursday sale of Elvis Presley's historic Graceland mansion.
Chancellor JoeDae L. Jenkins said at an injunction hearing at Shelby County Tennessee Chancery Court on Wednesday morning that the proposed auctioning of the property on Thursday will not go ahead after the Rock ‘n’ Roll legend's granddaughter claimed documents pertaining to the case were fraudulent.
The judge said he considered the real estate unique to the state and that there must be time for adequate discovery, and for the defense to address claims made about the potential sale.
The judge noted that this matter is of public interest, and that Graceland is part of the community and is well-loved.
A company claims that Lisa Marie Presley, Elvis’s only child, took out a $3.8 million loan but never paid it back having put the estate up as collateral via a signed Deed of Trust in 2018.
The company, called Naussany Investments and Private Lending, claims Lisa Marie never paid back that money before she died last year and the firm initiated plans for Elvis' former home in Memphis, as well as its surrounding acreage on Elvis Presley Boulevard, to be sold to the highest bidder at a foreclosure sale.
Elvis’ granddaughter, Riley Keough, is the sole heir to the property and has asked a court for an injunction preventing the sale, which was initially scheduled to go ahead Thursday.
Keough says that the lawsuit is all a scam, with forged documents and a fake shell company making the claim.
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