A Tennessee judge has temporarily blocked the auction of Graceland, the iconic former home of Elvis Presley. Presley’s granddaughter, Riley Keough, who was named sole trustee of the estate earlier this year following the death of her mother, Lisa Marie Presley, filed a lawsuit claiming the planned foreclosure auction was fraudulent.
Shelby County Chancellor JoeDae Jenkins issued the injunction against the sale, which was initially scheduled for Thursday. The company behind the auction, Naussany Investments and Private Lending, claims Lisa Marie Presley used Graceland as collateral for a $3.8 million loan in 2018. Keough’s lawsuit contends the loan documents are forgeries and that the company is a false entity.
A legal notice for the foreclosure posted in May 2023 raised Keough’s concerns, leading her to argue in court for the halt of the sale. Chancellor Jenkins' ruling suggests the claims made by Naussany lack validity, emphasizing the unique status and cultural significance of Graceland.
Graceland, purchased by Elvis Presley in 1957, has operated as a museum since 1982 and attracts around half a million visitors annually. The estate is a major income source for Elvis Presley Enterprises, which continues to manage and preserve the property for fans worldwide.