What you need to know:
Elvis Presley purchased Graceland in 1957 and it currently belongs to Riley Keough, his granddaughter, daughter of Lisa Marie Presley
Don’t mess with the King! With the news that the Graceland Mansion, headquarters of the historic Museum dedicated to Elvis Presley It was almost sold… and in one of those, destroyed.
A company claimed it had the right to sell the property for an alleged loan it made to Elvis’ daughter, something that the king’s granddaughter says is false. The case went to court, but we are going in parts.
Who owns Graceland, Elvis Presley’s mansion and museum?
Nowadays, Graceland is legally owned by Riley Keough, daughter of Lisa Marie Presley and granddaughter of Elvis Presley.as well as an actress and model, winner of awards such as the Emmys and the Golden Globes in 2023. The tourist complex, including the museum, is operated by the Promenade Trust.
But it turns out that for Thursday, May 23, a auction where the mansion would be put up for sale acquired by the King in 1957. The company Naussany Investments & Private Lending wanted to auction the property located in Memphis, Tennessee.
And why did Naussany intend to sell Graceland?
Now let’s talk about the mess of this matter. Given Naussany’s intentions, Riley Keough filed a lawsuit alleging that the company was committing fraud to take over Elvis’ mansion.
Happens that Naussany Investments intended to sell Graceland through foreclosure over an alleged loan from Lisa Marie Presley and Promenade Trust did not pay them.
They presented a promissory note with Lisa Marie’s signature where they put her father’s mansion as collateral in exchange for a loan of 3.8 million dollars. Elvis Presley’s daughter died in 2023 and said debt would not have been settled.
Judge stops the sale of Graceland because it would be a Naussany fraud
But what has been said, Elvis Presley’s granddaughter filed a lawsuit claiming that Naussany just wanted to commit fraud. She and her lawyers accused the company of not having made any loans to Lisa Marie Presleythey even accused in the lawsuit (cited by CNN) that “appears to be a fake entity created for the purpose of defrauding.”
Shelby County Judge JoeDae Jenkins was the one who stopped the Graceland auction, and he did it because the Notary Public who appears on the Naussany promissory note, He denied having participated in any negotiations between the company and Lisa Marie Presley.
He declared before the court that He did not even meet Elvis Presley’s daughter, much less attest to the legality of the promissory note where Graceland was supposedly put as collateral. for the loan of 3.8 million dollars. The judge, therefore, found sufficient evidence to consider that the promissory note may be a forgery.
Naussany does not intend to appeal the decision, but there will be a hearing soon where it will be determined who maintains ownership of Elvis Presley’s mansion. For now, Graceland is in the hands of Riley Keough.
