Judge blocks effort to put Elvis Presley’s Graceland up for sale

MEMPHIS, Tenn. (AP) — A judge ruled Wednesday that Elvis Presley’s estate could succeed in arguing that a company’s attempt to auction off Graceland was fraudulent as it ended a foreclosure sale of Memphis’ beloved tourist attraction.

Shelby County Chancellor JoeDae Jenkins issued a temporary injunction against the proposed auction which was scheduled for Thursday in Memphis, where the former home of the king of rock’n’roll is located. Jenkins’ injunction essentially keeps in place an earlier restraining order issued after Presley’s granddaughter Riley Keough filed a lawsuit to fight what it called a fraudulent scheme.

“Graceland is a part of this community, much loved by this community and around the world,” Judge said.

A public notice of foreclosure sale of the 13-acre estate released earlier in May indicated that Promenade Trust, which controls the Graceland Museum, owed $3.8 million after failing to repay a 2018 loan. Keough, an actress , inherited the trust and ownership of the house after the death of his mother, 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’s lawsuit alleged that Naussany submitted fraudulent documents regarding the loan in September 2023.

“Lisa Maria Presley never borrowed money from Naussany Investments and never gave a deed of trust to Naussany Investments,” Keough’s attorney wrote in a lawsuit.

Neither Keough nor lawyers for Naussany Investments were in court Wednesday. Keough’s attorney, Jeff Germany, said outside court that he had not had direct contact with Naussany’s representatives.

Naussany filed an unsuccessful motion asking the judge to deny the estate’s request for an injunction.

Kimberly Philbrick, the notary whose name appears on Naussany’s documents, indicated that she never met Lisa Marie Presley or notarized any documents for her, according to the estate’s lawsuit. The judge said the notary’s affidavit included in the lawsuit called into question “the authenticity of the signature.”

The judge noted that Keough might be able to successfully argue that the documents are fraudulent if his attorney presents evidence that proves it. He said Naussany will have a chance to defend himself against the fraud allegations.

Graceland opened as a museum and tourist attraction in 1982 as a tribute to Elvis Presley, a singer and actor who died in August 1977 at the age of 42. It attracts hundreds of thousands of visitors every year. A large Presley-themed entertainment complex across the street from the museum is owned by Elvis Presley Enterprises.

“Graceland will continue to operate as it has for the past 42 years, ensuring that Elvis fans around the world can continue to have the best possible experience when visiting his iconic home,” said Elvis Presley Enterprises in a press release.