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The Presley family is embroiled in a legal battle over Elvis Presley‘s renowned Memphis estate, Graceland. The iconic property, which includes the famous eight-bedroom mansion purchased in 1957 for a little over $100,000, is set to be sold at a foreclosure auction soon.
Elvis’ granddaughter, Riley Keough, has filed a lawsuit to stop the investment firm in charge of the sale as she alleged that their action was fraudulent. Riley claims the proposed foreclosure auction is not legitimate and seeks legal intervention.
Earlier this month, a public notice was posted regarding the foreclosure sale of the Memphis estate. The notice detailed a Missouri-based company, Naussany Investments and Private Lending, claims that Lisa Marie Presley, the late daughter of Elvis Presley, signed a Deed of Trust in 2018 to secure a $3.8 million loan, using Graceland as collateral.
According to the company, the loan remained unpaid until Lisa Marie’s death in 2023 at 54. Due to the outstanding debt, Naussany Investments and Private Lending explained that they had no choice but to proceed with the foreclosure and put the historic property up for sale.
In response to the public notice, Riley filed a detailed lawsuit on May 15 in Shelby County Chancery Court. She contended that her mother, Lisa Marie, had never borrowed any money from Naussany Investments, which she argued was not a legitimate com pany.
The 34-year-old alleged that the signatures attributed to her late mother on the deed were forged. To support her claim, she pointed out that the notary public listed on the documents had denied ever notarizing Lisa Marie’s signature or meeting her in person. Riley stated that the discrepancy further demonstrated the fraudulent nature of the transaction.
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