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Graceland sale halted by choose in Tennessee after Elvis Presley’s granddaughter alleges fraud

Graceland sale halted by choose in Tennessee after Elvis Presley’s granddaughter alleges fraud


A Tennessee choose on Wednesday blocked the public sale of Graceland, the previous residence of Elvis Presley, by an organization that claimed his property did not repay a mortgage that used the property as collateral.

Shelby County Chancellor JoeDae Jenkins issued a brief injunction in opposition to the proposed public sale that had been scheduled for Thursday this week.

“The court docket will enjoin the sale as requested as a result of, one, the true property is taken into account distinctive beneath Tennessee legislation. And in being distinctive, the lack of the true property can be thought-about irreparable hurt,” Jenkins mentioned, in keeping with CBS affiliate WREG-TV.

Jenkins’ injunction primarily retains in place a earlier ruling that he had issued after Presley’s granddaughter Riley Keough filed a lawsuit to struggle off what she mentioned was a fraudulent scheme.

A public discover for a foreclosures sale of the 13-acre property in Memphis posted earlier in Could mentioned Promenade Belief, which controls the Graceland museum, owes $3.8 million after failing to repay a 2018 mortgage. Keough, an actor, inherited the belief and possession of the house after the dying of her mom, Lisa Marie Presley, final 12 months.

Naussany Investments and Non-public Lending mentioned Lisa Marie Presley had used Graceland as collateral for the mortgage, in keeping with the foreclosures sale discover. Keough, on behalf of the Promenade Belief, alleged in her lawsuit that Naussany offered fraudulent paperwork relating to the mortgage in September 2023.

Neither Keough nor attorneys for Nassauny Investments have been in court docket Wednesday.

Keough, who starred in final 12 months’s hit present “Daisy Jones and the Six,” is the inheritor to the property.

In a lawsuit, Keough claims Naussany Investments “seems to be a false entity created for the aim” of defrauding her household. The lawsuit additionally says Keough’s mom “by no means borrowed cash” from the corporate, or gave them a deed of belief to Graceland, and additional alleges that paperwork claiming in any other case “are forgeries.”

Elvis purchased Graceland in 1957, on the age of twenty-two, for $102,500. On the time he bought it, the mansion was 10,266 sq. ft, and Elvis additionally purchased 13.8 acres of the farm round the home. The mansion has since been expanded to 17,552 sq. ft.

Graceland, the place Elvis died in 1977, was named to the American Nationwide Register of Historic Locations in 1991. Over 600,000 individuals go to Graceland — named after Grace, an aunt of one of many authentic house owners — annually.

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Written by bourbiza mohamed

Bourbiza Mohamed is a freelance journalist and political science analyst holding a Master's degree in Political Science. Armed with a sharp pen and a discerning eye, Bourbiza Mohamed contributes to various renowned sites, delivering incisive insights on current political and social issues. His experience translates into thought-provoking articles that spur dialogue and reflection.

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