A court in the US state of Tennessee has dramatically halted the sale of Elvis Presley’s Graceland mansion after his granddaughter said the whole process was “fraudulent”.
But the question of who rightfully owns the Memphis property is still up in the air – and could have major implications for whether it remains within the Presley family at all.
A notice from the Shelby County Courthouse, which covers Memphis, stated that Graceland and its surrounding property would be repossessed and auctioned off to the highest bidder on Thursday, May 23, local TV network WREG News reported.
The current tenant of Graceland, Elvis’ granddaughter Riley Keough, was furious and set off a legal battle slamming the sale as “fraudulent”. She filed a lawsuit calling the auction was bogus, reported The New York Post.
The drama stems from a 2018 contract that Ms Keough’s late mother, Lisa Marie Presley, allegedly signed to secure a $5.70 million ($US3.8 million) loan. The claimed loan allegedly used Graceland as collateral.
The loan was purportedly taken out through Naussany Investments and Private Lending, a Missouri-based company. The firm claims Lisa Marie, who died last year at 54, defaulted on the loan.
But Ms Keough’s lawsuit, filed on May 15, insist that Ms Presley never borrowed any money from Naussany.
“These documents are fraudulent,” the suit declares, alleging Lisa Marie’s signatures were forged and that Naussany Investments isn’t even a legitimate company.
“Furthermore, the notary listed on the documents denies notarising Lisa Marie’s signature or ever meeting her.”
Ms Keough’s lawsuit described Naussany as a company that “appears to be a false entity created for the purpose of defrauding.”
In an Instagram post on Wednesday, Priscilla Presley put it more succinctly. Over an image of Graceland she simply put the words “It’s a scam,” in bold, red letters.
Sale on hold, future still in doubt
On Wednesday, Shelby County judge Joe Dae Jenkins temporarily halted the planned repossession and sale.
But he said a future hearing would have to take place to determine whether the Ms Keough has ongoing ownership of Graceland or if Naussany Investments now has a rightful claim upon it.
“The estate is considered unique under Tennessee law, and in being unique the loss of the real estate will be considered irreparable harm,” Judge Jenkins said, reported local TV station Fox13.
“Graceland, it is a part of this community and well loved by this community and indeed around the world”.
But in what was a boost to the Presley family’s case, Judge Jenkins also said there was evidence that a company attempting to push through the repossession had forged documents that it claimed gave it the right to sell the property.
“It appears you’ll (Ms Keough) be successful on the merits … provided you prove at the ultimate hearing fraud alleged by your client and the notary”.
However, Naussany said it could provide evidence and arguments to prove it should take on the property.
Elvis Presley Enterprises, which manages Graceland, backed up Ms Keough’s claims.
“Elvis Presley Enterprises can confirm that these claims are fraudulent,” the company said in a statement.
“There is no foreclosure (repossession) sale. Simply put, the counter lawsuit has been filed is to stop the fraud.”
Elvis bought the Graceland estate in 1957 for $154,000 ($US102,500), the same year he released hits like Blue Christmas and All Shook Up.
Lisa Marie Presley inherited it after Elvis’ death in 1977, and it opened to the public as a museum in 1982.
A judge approved Ms Keough’s ownership of Graceland 10 months after her mother’s death in January 2023, naming her the sole trustee of the family estate following a legal tussle with her grandmother, Priscilla Presley, 78, Elvis’ ex-wife.
The dispute arose over a 2016 amendment to Lisa Marie’s will that removed Priscilla Presley as trustee. Priscilla’s attorneys claimed she only learned of the amendment after her daughter’s passing.
Last year, Priscilla Presley stated her wish to be buried next to her late ex-husband Elvis at his Graceland estate upon her own death.
Currently, Elvis, his parents, Lisa Marie, and her son Benjamin are all interred at Graceland.
Graceland is not just a house — it’s a shrine to one of the greatest pop culture icons ever.
Spanning 13.8 acres, the estate draws hundreds of thousands of visitors annually who come to celebrate the legacy of Elvis. The mansion, built in 1939, was named after Ruth Brown Moore’s aunt, Grace Toof.
More Coverage
Known for its eclectic decor, Graceland’s “Jungle Room” is a notable highlight, filled with lush greenery and unique furniture Elvis bought to irritate his father.
According to the Graceland website, all the furniture in the home is original from Elvis’ time.
- with The New York Post.
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2024-05-22 15:56:16Z
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