Elvis Presley's Graceland Mansion Could Be Back on the Market Soon

According to Elvis Presley's granddaughter, Riley Keough, Graceland is not for sale. But preceding legal documents supposedly signed by her mother, the late Lisa Marie Presley, may prove otherwise. According to the Associated Press, the famous Presley estate, Graceland, was scheduled for an auction this Thursday. That is, until Elvis Presley's granddaughter, Riley Keough, filed a temporary restraining order and a lawsuit claiming the documents leading to Graceland's foreclosure were fraudulent. 

As per a notice within the foreclosure sale, the Promenade Trust, which controls Elvis Presley's estate, including the Graceland Museum, failed to repay a loan, resulting in a $3.8 million debt. A private lending company called Naussany Investments and Private Lending states that Lisa Marie used Graceland as collateral for the loan. However, Keough claims these documents are fraudulent. 

“Lisa Marie Presley never borrowed money from Naussany Investments and never gave a deed of trust to Naussany Investments," Keough’s lawyer states in a document related to a lawsuit.

Furthermore, according to the court filing, the notary listed in the documents, Kimberly Philbrick, says she never met Lisa Marie nor did she notarize documents for her.

The Associated Press also states that Kurt Naussany, the defendant listed in the court documents, forwarded questions to an individual named Gregory Naussany. Gregory Naussany then states that any further questions can be answered by their attorneys; however, court documents do not list an attorney who represents Naussany Investments. 

In a statement made Tuesday, May 21, Elvis Presley Enterprises Inc. said "Elvis Presley Enterprises can confirm that these claims are fraudulent. There is no foreclosure sale. Simply put, the counter lawsuit has been filed is to stop the fraud."

According to the Post, a source said that Keough is “traumatized” and “never thought that a historic piece of property could even be considered to go into the hands of any random stranger.”

Elvis Presley purchased Graceland for $102,500 back in 1957. Adjusted for inflation, that is around 1.14 million dollars today. Lisa Marie Presley then took over the estate in 1977, following her father's death, and opened it up to the public as a museum in 1982. The 13.8 acres are considered a must-see for tourists around the globe and serve as a snapshot of how "The King of Rock and Roll" lived during the height of his career.

Following Lisa Marie's death in early 2023, Keough obtained ownership of Graceland following a legal battle with her grandmother and Elvis's ex-wife, Priscilla Presley. 

Graceland is also the resting place of Lisa Marie, her son Benjamin Keough, and Elvis Presley. 

The hearing regarding Keough's suit and Graceland's supposed foreclosure is scheduled for Wednesday, May 22. 

According to current updates from CNN, a Tennessee court's Chancellor, JoeDae Jenkins, said that the company trying to sell Graceland probably committed fraud.