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Elvis’ Graceland home up for auction after Lisa Marie Presley ‘failed to pay back $3.8m loan’ as family files lawsuit – The Sun
ELVIS Presley’s historic home Graceland may be sold at a foreclosure auction later this week if appeals by surviving family members go unheard.
A temporary restraining order was granted on Monday by a Memphis, Tennessee court to halt the sale.
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Elvis Presley’s historic home dubbed Graceland may be sold at a foreclosure auction later this week if appeals by surviving family members go unheardCredit: Getty
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Presley’s granddaughter, Riley Keough, says the foreclosure is fraudulentCredit: Getty
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Presley moved into Graceland with his family in 1957Credit: Getty
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Graceland opened to the public in 1982, five years after his deathCredit: Alamy
Presley’s granddaughter, actress Riley Keough, is fighting the case by claiming that the company behind the foreclosure had no right to it in the first place.
A notice went up this month noting that Graceland and its surrounding areas would be auctioned off to the highest bidder in front of the Shelby County Courthouse on May 23, according to local CBS affiliate WREG.
The company behind the motion, called Naussany Investments and Private Lending, says that Keough’s mother, Lisa Marie Presley, took out a $3.8 million loan using the property as collateral.
She signed a Deed of Trust to secure the loan in 2018, Naussany Investments has alleged.
They claim Lisa Marie never paid the debt back before her untimely death at the age of 54 in January 2023.
Keough says that the loan is fake and was not executed by her mother.
“These documents are fraudulent,” the lawsuit states.
But Keough claims that the signatures on the deed are forgeries and goes even further to allege that Naussany Investments is not a real entity.
Information about the company online is almost nonexistent and its telephone number was disconnected when local reporters reached out.
In the lawsuit, she says the notary involved in the deed has denied notarizing Lisa Marie’s signature or even ever having met her.
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A company named Naussany Investments claims that Lisa Marie Presley used the property as collateral for a $3.8 million loan she failed to pay back before her deathCredit: Alamy
A MONUMENT TO ROCK & ROLL HISTORY
Presley moved into Graceland with his family in 1957 during the height of his career.
The megastar bought the 13.8-acre estate for $102,500, the same year he recorded several fan favorites including Blue Christmas and All Shook Up.
Lisa Mariejiij helped convert it into a museum and tourist destination by 1982.
The house was named in a survey last year as the most popular museum in the United States.
Over 600,000 guests explore the home of the King of Rock & Roll every year, according to the museum’s website.
Lisa Marie inherited Graceland after Elvis’s death in 1977.
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Elvis crafted some of his most famous hits at Graceland, including Blue Christmas and All Shook UpCredit: Getty
A TRAGIC DEATH
Lisa Marie was discovered unresponsive in her California home on January 12, 2023, and rushed to the hospital, but it was already too late.
A later autopsy report found that the star died from complications due to a small bowel obstruction.
The report said a small amount of Oxycodone, an opioid, was found in her system, which was attributed to a valid prescription she had received months before after cosmetic surgery.
She also had therapeutic levels of anti-anxiety drug, Buprenorphine, and traces of Quetiapine, an antipsychotic.
Her urine toxicology was otherwise negative and no drug paraphernalia or narcotics were found at her home, the coroner report said.
Lisa Marie was buried next to her son, Benjamin Keough, who died at the age of 27 by suicide in 2020.
Both are buried in Graceland’s Meditation Garden.
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Lisa Marie Presley died due to a small bowel obstruction in January 2023Credit: Alamy
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Lisa Marie was Elvis’ only child and heir to GracelandCredit: Getty
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Keough is the sole heir of GracelandCredit: Getty
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