A Tennessee judge granted the ban Wednesday Auction of GracelandElvis Presley’s former home has been sued by a company that defaulted on a loan that used his estate as collateral.
Shelby County Executive JoeDae Jenkins issued a temporary restraining order against the proposed auction scheduled for Thursday this week.
Because the real estate is considered exclusive under Tennessee law, the court will prohibit the requested sale. And being unique, the loss of real estate would be considered irreparable harm,” Jenkins said. CBS affiliate WREG-TV.
Jenkins’ order essentially upholds an earlier ruling by Presley’s granddaughter Riley Keough after she filed a lawsuit to fight what she said was a fraudulent scheme.
“As the court has now made clear, the claims have no merit. There will be no forfeiture. Graceland will continue to operate for the past 42 years, ensuring that Elvis fans around the world can continue to enjoy a best-in-class experience when visiting his iconic home,” a spokesman for Elvis Presley Enterprises Inc. said Wednesday.
A public notice of the foreclosure sale of the 13-acre estate in Memphis was issued in May after the Promenade Trust, which controls the Graceland Museum, defaulted on a 2018 loan that owed $3.8 million. Keefe, an actor, inherited trust and ownership of the house after his mother’s death. Lisa Marie PresleyLast year.
Naussany Investments and Private Lending said Lisa Marie Presley used Graceland as collateral for the loan, according to the foreclosure sale notice. Keough, on behalf of the Promenade Foundation, alleged in her lawsuit that Nausani submitted fraudulent documents related to the loan in September 2023.
Neither Keefe nor attorneys for Nausani Investments were in court Wednesday.
Keefe, who starred in last year’s hit show “Daisy Jones and the Six,” is the heir to the estate.
In one case, Keefe says Nausani Investments appears to be a bogus company created for the purpose of defrauding his family. It further alleges that the documents, which say Keo’s mother “never took a loan” from the company or gave Graceland a deed of trust, are “forgeries.”
Elvis bought it Graceland In 1957, at age 22, $102,500. At the time he bought it, The Mansion Elvis also bought the 10,266 square foot and 13.8 acre farm surrounding the house. The mansion has since been expanded to 17,552 square feet.
Graceland, where Elvis died in 1977, was named to the US National Register of Historic Places in 1991. More than 600,000 people visit Graceland each year – named after Grace, the aunt of one of the original owners.
