Current:Home > MarketsElvis' Graceland faces foreclosure auction; granddaughter Riley Keough sues to block sale -Streamline Finance
Elvis' Graceland faces foreclosure auction; granddaughter Riley Keough sues to block sale
View
Date:2025-04-23 21:31:44
Elvis Presley's iconic Graceland home may be put up for public auction, but the rock legend's granddaughter Riley Keough is fighting the sale and has filed a lawsuit claiming fraud.
A public notice for the foreclosure sale of the Memphis estate was posted earlier this month. The notice alleges that Promenade Trust, which controls Graceland at 3734 Elvis Presley Blvd., owes $3.8 million after failing to repay a loan taken out on May 16, 2018.
The public auction was scheduled for Thursday, May 23, at the Shelby County Courthouse in Memphis, but a temporary restraining order has been granted, according to Keough's legal team. The actress, 34, inherited the Promenade Trust after her mother Lisa Marie Presley, 54, died in January 2023.
Is Graceland for sale?
Memphis-based law firm Morton and Germany is representing Keough and the Promenade Trust. Attorney Jeff Germany confirmed the temporary restraining order is in place, which delays Thursday's sale.
Need a break? Play the USA TODAY Daily Crossword Puzzle.
Naussany Investments and Private Lending in Missouri says Graceland was used as collateral and that Lisa Marie Presley failed to repay the loan. Keough, on behalf of the Promenade Trust, has filed a lawsuit against Naussany Investments. In the lawsuit, Keough claims the company presented fraudulent documents regarding the loan and unpaid sum in September 2023.
"Lisa Marie Presley never borrowed money from Naussany Investments and never gave a deed of trust to Naussany Investments," the lawsuit claims.
The lawsuit was filed on May 15 in Shelby County Chancery Court. An injunction hearing is scheduled for Wednesday, May 22, between both parties in Chancery Court.
Graceland did not immediately respond to a request for comment on Monday.
Who owns Graceland?
Elvis Presley purchased Graceland in 1957. The 179-acre property was inherited by Lisa Marie, his only child, following the King of Rock 'n' Roll's death in 1977, and Keough has inherited the home.
Elvis, his parents, Lisa Marie and her son, Benjamin Keough, are buried on the grounds in the Meditation Garden. His ex-wife, Priscilla Presley, plans to be buried near Elvis at Graceland upon her death.
Contributing: Kim Willis, USA TODAY
veryGood! (63)
Related
- The FTC says 'gamified' online job scams by WhatsApp and text on the rise. What to know.
- Amazon’s Best Prime Day 2024 Deals Are Full of Christmas Stocking Stuffers Starting at $5
- Mississippi’s Medicaid director is leaving for a private-sector job
- Why Love Is Blind's Tyler Has No Regrets About Ashley Conversations
- The Best Stocking Stuffers Under $25
- Johnny Manziel surprises Diego Pavia; says Vanderbilt's upset of Alabama 'feels like 2012'
- Disney World and Universal closures halt Orlando tourism as Milton approaches
- Travis Kelce Shares How He Handles Pressure in the Spotlight
- From family road trips to travel woes: Americans are navigating skyrocketing holiday costs
- Travis Kelce Shares How He Handles Pressure in the Spotlight
Ranking
- 'As foretold in the prophecy': Elon Musk and internet react as Tesla stock hits $420 all
- Verizon says issue has been resolved after thousands reported outage Monday morning
- Costco stores selling out of gold bars, survey finds
- Tropicana implosion in Las Vegas: After 67 years, Rat Pack-era Strip resort falls
- Google unveils a quantum chip. Could it help unlock the universe's deepest secrets?
- Why Love Is Blind's Tyler Has No Regrets About Ashley Conversations
- Dylan Guenther scores first goal in Utah Hockey Club history
- Busy Moms Deserve These October Prime Day 2024 Beauty Essentials - Revlon, Laneige & More, Starting at $4
Recommendation
'Survivor' 47 finale, part one recap: 2 players were sent home. Who's left in the game?
Disney World and Universal closures halt Orlando tourism as Milton approaches
As schools ban mobile phones, parents seek a 'safe' option for kids
Are Taylor Swift and Travis Kelce Engaged? Here's the Truth
Tropical weather brings record rainfall. Experts share how to stay safe in floods.
Got a notice of change from your Medicare plan? Here are 3 things to pay attention to
Riley Keough felt a duty to finish Lisa Marie Presley’s book on Elvis, grief, addiction and love
Small plane crashes on Catalina Island, 5 people dead