The Graceland Foreclosure Has Seemingly Been Averted

Photo: Bettmann / Contributor / Getty Images

It looks like Graceland will remain a Presley family property, per TMZ. Naussany Investments and Private Lending LLC will reportedly withdraw all claims on Elvis’s Memphis estate, which they had previously threatened via the intent to hold a foreclosure auction. Riley Keough, who is Elvis’s eldest grandchild, sued over the sale attempt set into motion by the company, which Keough’s representation called fraudulent in basis: “There is no foreclosure sale,” said Elvis Presley Enterprises, which operates Graceland, through a statement about the proceedings.

CNN reported that Keough—who is the daughter of Elvis’s only child, the late Lisa Marie Presley—filed a suit on May 15 and was able to obtain an order halting sale proceedings originally scheduled to take place today. Keough was named the sole owner of Graceland in August, following Lisa Marie’s January 2023 death. Per ABC, a statement released by someone appearing to be a representative of the little-known Naussany Investments & Private Lending LLC said that the entity will withdraw all claims to the property. TMZ reports that the company will withdraw all claims with prejudice, meaning they cannot be refiled.

Naussany Investments & Private Lending LLC initially claimed that Lisa Marie borrowed $3.8 million from them, using Graceland as collateral. The firm produced loan documents imprinted with what appeared to be Lisa Marie’s signature, however Keough’s lawsuit maintained that the papers were fraudulent: “Lisa Marie Presley never borrowed money from Naussany Investments and never gave a deed of trust to Naussany Investments.” The documents also bore the name and approval of a Florida notary who, according to the lawsuit, “never met Lisa Marie Presley nor notarized any document for her.”

Keough’s suit asserted that the LLC “appears to be a false entity created for the purpose of defrauding.” CNN was unable to find a registered company by that name anywhere nationwide.

Graceland was home to Elvis Presley from the age of 22, when he purchased it for $102,500, up until his 1977 death at the property. The Colonial Revival–style mansion is the second-most visited home in America (after the White House), receiving around 600,000 visitors annually.

The rock icon was heavily involved in the home’s decor. His former wife, Priscilla Presley, told AD that Elvis once “left plans for [the interior decorator] on the color and fabric choices and layout of the furnishings” prior to leaving the estate to shoot a film. The home’s patinated display of true-to-form interior trends from the late ’50s through the late ’70s prompted the English Duchess of Cavendish to comment that “students of the decorative arts should see Graceland as part of their education.”

Originally Appeared on Architectural Digest

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