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Graceland is not for sale, Elvis Presley's granddaughter Riley Keough says in lawsuit

A judge blocked the sale after Keough sought a temporary restraining order and filed a lawsuit.
Visitors to Graceland look at the gravesite of Lisa Marie Presley and her son Benjamin Keough
Posted at 4:04 PM, May 21, 2024

The granddaughter of Elvis Presley is fighting an attempt to publicly auction his Graceland estate in Memphis, alleging that a company’s claims that the king of rock ’n’ roll’s former home was used as collateral for an unpaid loan are fraudulent.

A public auction for the estate had been scheduled for Thursday this week, but a Memphis judge blocked the sale after Riley Keough sought a temporary restraining order and filed a lawsuit, court documents show. Keough, an actor, is Presley's granddaughter and the daughter of Lisa Marie Presley.

A public notice for a foreclosure sale of the 13-acre estate posted earlier in May said Promenade Trust, which controls the Graceland museum, owes $3.8 million after failing to repay a 2018 loan. Keough inherited the trust and ownership of the home after her mother's death last year.

Naussany Investments and Private Lending said Lisa Marie Presley had used Graceland as collateral for the loan and the company would sell the estate to the highest bidder, according to the foreclosure sale notice. Keough, on behalf of the Promenade Trust, sued last week, claiming that Naussany presented 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 lawyer wrote in a lawsuit.

Kimberly Philbrick, the notary whose name is listed on the documents, indicated that she never met Lisa Marie Presley nor notarized any documents for her, the court filing said. The Associated Press texted Philbrick at numbers believed to be hers, but she didn’t immediately respond.

W. Bradley Russell, a lawyer for Keough, declined comment Tuesday.

Kurt Naussany, who was identified in court documents as a defendant, directed questions in an email to Gregory Naussany. Gregory Naussany told the AP in an email: “The attorneys can make comment!” Court records do not show a lawyer for the company.

The court documents included addresses for the businesses in Jacksonville, Florida, and Hollister, Missouri. Both were for post offices. A Kimberling City, Missouri, reference was for a post office box.

An injunction hearing is scheduled for Wednesday in Shelby County Chancery Court.

“Elvis Presley Enterprises can confirm that these claims are fraudulent. There is no foreclosure sale. Simply put, the counter lawsuit has been filed is to stop the fraud,” Elvis Presley Enterprises Inc. said in a statement Tuesday.

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

Tim Marshall, of Queensland, Australia, went to the gates of Graceland on Tuesday as part of a weekslong U.S. tour with his partner. Marshall, 54, said he heard the news about the Graceland sale attempt.

“I was surprised," Marshall said. "We don't know enough about it. I think it would be not very good if they lose it.”