Elvis Presley’s Graceland Estate Saved from Auction Amidst Legal Battle

Riley Keough, the granddaughter of the legendary Elvis Presley, has stepped up to halt the auction of the iconic Graceland estate in Memphis amidst a legal dispute. The potential auction was thwarted by a Memphis judge following Keough’s legal actions, including seeking a temporary restraining order and filing a lawsuit.

The looming public auction was triggered by claims made by Naussany Investments that a loan, utilizing Graceland as collateral, had not been repaid. The estate, spread over 13 acres, was at risk due to an alleged debt of $3.8 million linked to a loan from 2018, for which Lisa Marie Presley, Keough’s mother, had pledged Graceland.

Naussany Investments and Private Lending pressed forward with the auction plan, citing alleged non-repayment by Lisa Marie Presley, prompting Keough, who inherited the trust and ownership post her mother’s passing, to respond swiftly by challenging the authenticity of the claims.

Legal documents revealed by Keough’s lawyer pointed to the alleged presentation of false documents by Naussany Investments in September 2023 regarding the supposed loan and outstanding amount. The lawsuit emphasized that Lisa Marie Presley never engaged in any financial transactions with Naussany Investments or provided a deed of trust to them.

Representatives for Naussany Investments, including lawyers W. Bradley Russell and Kurt Naussany, remained tight-lipped on the matter when queried, with Gregory Naussany, another party involved, deflecting questions to the legal team.

An injunction hearing has been slated to take place in the Shelby County Chancery Court to address the ongoing legal battle over the fate of Graceland, a cornerstone in the legacy of the late Elvis Presley. Elvis Presley Enterprises Inc. issued a statement dismissing the claims as fraudulent and asserting that there is no imminent foreclosure sale.

Graceland, which has been welcoming countless fans as a museum and tourist attraction since 1982 in homage to Elvis Presley, continues to stand as a symbol of the enduring legacy of the iconic musician and actor, who passed away in August 1977 at the age of 42.