The iconic Graceland mansion, once the home of the legendary Elvis Presley, has been saved from a foreclosure auction. This decision came after a state judge blocked the sale due to allegations of fraud, much to the relief of Elvis fans worldwide.
Naussany Investments & Private Lending, the company that initially sought to auction Graceland, announced it would be withdrawing all its claims. This decision followed a judicial hearing where Shelby County Chancellor JoeDae Jenkins issued an injunction halting the sale, citing serious fraud allegations.
Earlier this month, a legal notice indicated that the historic Memphis home was to be auctioned. The notice claimed that Lisa Marie Presley, Elvis’s late daughter, had signed a deed of trust in 2018, securing a $3.8 million loan using Graceland as collateral. However, her family disputed this, alleging that the sale was based on fraudulent claims.
Elvis Presley’s Graceland, now a museum dedicated to the King of Rock ‘n’ Roll, faced uncertainty as Naussany Investments claimed Lisa Marie had not repaid the loan before her death last year.
The company had planned to sell the mansion and its surrounding acreage to the highest bidder, causing distress among the Presley family and fans.
Riley Keough, who inherited Graceland after her mother’s passing, took legal action against Naussany, asserting that her mother never took out the alleged loan and accusing the company of fraud. She stated unequivocally in her lawsuit that the documents used to support the foreclosure were fraudulent.
Priscilla Presley, Elvis’s ex-wife and Lisa Marie’s mother, took to social media to decry the proposed sale as a scam. Her outspoken condemnation helped rally support against the foreclosure, further bolstering the family’s case.
Adding to the controversy, the notary public listed on Naussany’s documents provided an affidavit claiming she never met Lisa Marie Presley or notarized her signature. This critical statement cast significant doubt on the authenticity of the documents and supported the allegations of fraud.
Chancellor Jenkins emphasized that the notary’s statement raised serious questions about the authenticity of the signature and the legitimacy of the underlying document. This development was a crucial factor in his decision to block the foreclosure auction.
Elvis Presley Enterprises, Inc., which operates Graceland, expressed relief and satisfaction following the court’s decision. They released a statement affirming that there was no validity to Naussany’s claims and assured fans that Graceland would continue to operate as it has for the past 42 years, preserving the legacy of Elvis Presley.
