On Monday, May 20, 2024, news broke that Elvis Presley’s granddaughter Riley Keough filed a lawsuit to stop the sale of Graceland. Naussany Investments & Private Lending LLC claimed her late mother Lisa Marie Presley borrowed $3.8 million and gave the organization a deed of trust for the iconic home as collateral. Riley alleged these documents were fraudulent.
On Wednesday, May 22, 2024, Chancellor JoeDae L. Jenkins of Shelby County Chancery Court in Memphis, Tennessee, stopped sale. The estate was supposed to go up for foreclosure auction the following day. The legal proceedings are not over yet.
"The estate is considered unique under Tennessee law, and in being unique the loss of the real estate will be considered irreparable harm," Chancellor JoeDae stated in his ruling. Either Riley or representatives from Naussany Investments were present at the hearing. The decision also delays further legal proceedings from occurring until Naussany Investments can answer Riley’s claims of fraud.
Riley’s lawsuit alleges that her mother’s signatures were forged. It also claims the notary involved in the case did not notarize any documents and that she never met Lisa Marie.
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Neither Riley nor Naussany Investments have publicly commented on the situation. Graceland and Elvis Presley Enterprises opened up about the case to People. "As the court has now made clear, there was no validity to the claims," it’s statement alleges. "There will be no foreclosure. Graceland will continue to operate as it has for the past 42 years, ensuring that Elvis fans from around the world can continue to have a best in class experience when visiting his iconic home."
