GRACELAND STAYS WITH PRESLEY HEIRS ~

Graceland Stays with Family

A Tennessee judge yesterday ruled to prevent the foreclosure and sale of Elvis Presley’s Graceland estate. The Memphis estate—which had been scheduled to go to auction today—can stay with Presley’s family, with the judge accusing the company trying to sell it of possible fraud.

Last year, Naussany Investments & Private Lending LLC said it loaned Presley’s daughter Lisa Marie $3.8M in 2018 using Graceland as collateral. The company said failure to repay the loan allows it to foreclose on the property, submitting a notarized note as evidence of the loan.

Elvis’s granddaughter, Danielle Riley Keough—who owns Graceland—sued to block the sale, calling the documents counterfeit and the company fake. The notary public named denies ever overseeing a document signed by Lisa Marie. The company—represented in written statements by a man named Gregory Naussany—lacks a physical address. Following the judge’s ruling, the company has withdrawn its claims.

Graceland boasts over 600,000 visitors each year. A 2020 estimate places the value of the 14-acre property—purchased in 1957 for $102,500—upward of $400M.