This is a really bonkers story. The backstory: when Lisa Marie Presley passed away, Riley Keough basically had to deal with all of the Elvis estate issues on her own, given that Riley’s half-sisters are still under the age of 18. The money and the estate belongs to all three sisters, but Riley is in control right now. Riley spent months dealing with Priscilla’s attempts to continue to profit from Graceland and the Elvis estate, and now Riley is dealing with one of the craziest things I’ve seen in my life. Apparently, there’s a company trying to “sell” Graceland at auction because this company claims that Lisa Marie Presley took out a loan, using Graceland as collateral. But the whole thing is likely bullsh-t, and even if it was the case… Graceland is literally a Memphis landmark and on some kind of preservation registry. Behold, one of the weirdest stories of the week:
Graceland, the iconic home and burial site of the legendary Elvis Presley, is facing a dramatic and emotional turn of events. This historic estate, a symbol of the King of Rock and Roll, is set to be sold at a foreclosure auction this Thursday. The news has sent shockwaves through the Presley family and Elvis’ legion of fans around the world. According to a legal notice published earlier this month, Graceland and the surrounding land on Elvis Presley Boulevard will be auctioned off for cash to the highest bidder at Shelby County Courthouse on May 23, as reported by WREG-TV News.
Elvis’ granddaughter, actress Riley Keough, 34, who currently owns Graceland, is fiercely challenging the sale with a lawsuit, claiming it is ‘fraudulent.’ A temporary restraining order on the sale was issued on Monday, and an injunction hearing is set for Wednesday.
The legal notice claims that Riley’s mother, the late Lisa Marie Presley, allegedly signed a Deed of Trust in 2018 to secure a $3.8 million loan, using Graceland as collateral. This loan was purportedly taken through a Missouri company called Naussany Investments and Private Lending. Now, the company claims Lisa Marie did not repay the money before her untimely death at 54 last year.
However, Riley’s lawsuit, filed on May 15 in Shelby County Chancery Court, disputes these claims, stating that her mother did not borrow money from the company. “These documents are fraudulent,” the lawsuit declares, alleging that Lisa Marie’s signatures on the deed are forgeries.
The lawsuit also claims that Naussany Investments is not a legitimate company. The notary listed on the documents has denied notarizing Lisa Marie’s signature or ever meeting her.
A fake notarization??? My question is… if Naussany Investments is an illegitimate company, how did they just swoop in and declare “we’re putting Graceland up for public auction” and everyone just went along with it? I’ve felt so sorry for Riley this whole time, ever since her mother passed away. Riley has had so much on her plate, trying to untangle all of Priscilla and Lisa Marie’s financial messes and figure out how to keep Graceland running as a tourist destination. Riley seems to have good lawyers though and she seems like a very sensible person. But wow, this really is bonkers.
Photos courtesy of Avalon Red.