A judge has blocked the auction of Elvis Presley’s former home by a company that claimed his estate failed to repay a loan that used the property as collateral.
Shelby County Chancellor JoeDae Jenkins issued a temporary injunction against the proposed Graceland auction that was scheduled for Thursday.
Mr. Jenkins’ injunction essentially keeps in place a restraining order he issued after the singer’s granddaughter, Riley Keough, filed a lawsuit to fight what she claimed was a scheme fraudulent.
A public notice for a foreclosure sale of the 13-acre estate in Memphis, Tennesseepublished earlier in May, indicated that Promenade Trust, which controls the Graceland museum, owed $3.8 million (£3 million) after failing to repay a loan taken out in 2018.
Keough, an actor, inherited the trust and ownership of the house after the death of his mother, Lisa Marie Presley, last year.
Naussany Investments and Private Lending said Lisa Marie Presley used Graceland as collateral for the loan, according to the foreclosure sale notice.
Keough alleged that Naussany presented fraudulent documents regarding the loan in September 2023.
Neither Keough nor Nassauny Investments’ lawyers were present in court.
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Riley Keough Photo: AP
“Lisa Maria Presley never borrowed money from Naussany Investments and never gave a deed of trust to Naussany Investments,” Keough’s attorney argued in the lawsuit.
Kimberly Philbrick, the notary listed on Nassauny’s documents, indicated that she never met Lisa Marie Presley or notarized any documents for her, according to the court filing.
Graceland opened as a museum and tourist attraction in 1982 as a tribute to Elvisfive years after the death of the king of rock n roll in 1977, at the age of 42.
He purchased Graceland Mansion in 1957 and lived there until his death.
It now attracts hundreds of thousands of visitors each year and a large Elvis-themed entertainment complex across the street from the museum is owned by Elvis Presley Enterprises.
