Will Elvis Presley’s Graceland Be Foreclosed?

Elvis Presley’s legendary Graceland mansion is on the verge of being sold at a foreclosure auction.  This has Elvis’ surviving grandchildren “All Shook Up” and has resulted in a legal battle that has pitted his granddaughter, Riley Keough, against the purported lender seeking foreclosure.  Keough claims that the pending sale is “fraudulent.”  Graceland and its surrounding property in Memphis, Tennessee is scheduled to be auctioned to the highest bidder on May 23.

Keough is the current owner of Graceland and has called the auction a sham.  She is seeking a temporary restraining order to prevent the auction from occurring.

The lender alleges that Keough’s late mother, Lisa Marie Presley, allegedly signed a Deed of Trust in 2018 that secured a $3.8 million loan with Graceland as collateral.  The loan was purportedly taken out through Naussany Investments and Private Lending, which claims Lisa Marie, who died in 2023. 

Keough, however, claims that her mother never borrowed any money from Naussany. “These documents are fraudulent,” Keough declared in a lawsuit, and alleges that Lisa Marie’s signatures were forged and that Naussany Investments isn’t even a legitimate company. Furthermore, the notary listed on the documents denies notarizing Lisa Marie’s signature or ever meeting her. 

Riley Keough

“Suspicious Minds” want to know which side is correct.  Graceland, as we know, is an institution.  Elvis bought the Graceland estate in 1957 for $102,500.  His daughter, Lisa Marie inherited it after Elvis’ death in 1977, and it opened to the public as a museum in 1982. After her death in January 2023, Keough became the owner.  Elvis, his parents, Lisa Marie, and her son Benjamin are all interred at Graceland.

While the lender wins the majority of foreclosure lawsuits that are filed, there are often defenses to these cases.  Obviously, if Lisa Marie did not take out a loan, the property should not be foreclosed.  Experienced foreclosure defense attorneys can determine whether adequate defenses exist to foreclosure lawsuits. 

Cotzen Law has handled hundreds of foreclosure cases and is well-versed at possible defenses.  The firm has received awards for its handling of foreclosure cases and can help you manage the difficult situation of a foreclosure on your property.

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