Elvis Presley’s estate is currently involved in a legal battle to prevent the auction of Graceland, the iconic home of the legendary singer. The auction was scheduled for this week but was blocked by a Memphis judge after Presley’s granddaughter, Riley Keough, filed a lawsuit seeking a temporary restraining order. The estate, controlled by Promenade Trust, owes $3.8 million after failing to repay a 2018 loan, according to a public notice for a foreclosure sale posted in May. Keough inherited the trust and ownership of the home after the death of her mother, Lisa Marie Presley, last year.
The lawsuit filed by Keough alleges that the loan documents presented by Naussany Investments and Private Lending were fraudulent. The notary listed on the documents, Kimberly Philbrick, stated that she never met Lisa Marie Presley nor notarized any documents for her. W. Bradley Russell, a lawyer for Keough, declined to comment on the matter. Kurt Naussany, identified as a defendant in the case, referred questions to Gregory Naussany, who did not provide any explanation. An injunction hearing is scheduled for Wednesday in Shelby County Chancery Court to address the issue.
Elvis Presley Enterprises Inc. released a statement confirming that the claims of foreclosure are fraudulent and that the counter lawsuit is aimed at stopping the fraud. Graceland has been a popular tourist attraction since it opened as a museum in 1982, drawing hundreds of thousands of visitors each year. The estate includes a large entertainment complex owned by Elvis Presley Enterprises. Tim Marshall, a visitor from Australia, expressed surprise at the news of the potential sale of Graceland and stated that it would not be good if they were to lose it.
The legal dispute surrounding the auction of Graceland has raised concerns among fans and visitors who cherish the historic home of Elvis Presley. The estate is an important cultural landmark and a symbol of the singer’s legacy. The outcome of the injunction hearing scheduled for Wednesday will determine the future of Graceland and whether it will remain under the ownership of Elvis Presley’s descendants. The estate’s fight against the alleged fraudulent scheme to auction off Graceland highlights the efforts to protect the singer’s historic home and preserve his memory for future generations.
