Elvis Presley: Graceland auction blocked as The King's granddaughter granted injunction

23 May 2024, 09:07

The King's late daughter Lisa Marie had allegedly taken out out a loan using Graceland as collateral

A planned auction of Elvis Presley's former home Graceland has been blocked.

The property where Elvis Presley is buried was alleged to have been used as collateral for a loan taken out by his daughter Lisa Marie in 2018, and was apparently to be sold off to cover reported unpaid costs.

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However, The King's granddaughter – actress Riley Keough – filed a 60-page lawsuit challenging the sale. She claimed the loan was 'fraudulent' and Shelby County Chancellor JoeDae Jenkins yesterday (May 22) issued a temporary injunction against the sale.

According to legal documents, Lisa Marie allegedly secured a $3.8 million loan in 2018 and used the family home and tourist attraction, Graceland, as collateral.

The alleged loan was taken out through a company called Naussany Investments and Private Lending, who are claiming that Ms Presley never paid back the loan before her death aged 54, in January 2023.

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Her daughter, Riley Keough, hit back with legal documents of her own, claiming that Naussany Investments is not a real company and her mother's signatures are forgeries.

"The note and deed of trust are fraudulent and unenforceable," states the lawsuit.

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As further proof, Riley's legal team said the notary listed on the original loan documents has denied her notarised the papers, or even ever met Lisa Marie Presley.

Elvis Presley lived at Graceland for twenty years from 1957 to his death in 1977, when the property was handed down to his only daughter Lisa Marie Presley.

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The 13.8-acre Memphis property attracts hundreds of thousands of visitors every year, as tourists come to pay their respects to Elvis Presley's home and final resting place.

After Lisa Marie Presley's shock death of a bowel obstruction in January 2023, she was buried at Graceland next to her father and her 27-year-old son, Benjamin Keough, who died from a self-inflicted gunshot wound in July 2020.

Graceland then passed to her daughter Riley Keough, 34, who is now fighting to keep the property in the family.

Riley's grandmother, Priscilla Presley, weighed in on the reported loan, posting a photo of Graceland on her social media and the letters 'It's a scam' in red on Monday night (May 20).

And in a statement to PEOPLE Magazine, Elvis Presley Enterprises also claimed the lawsuit is a scam.