Current:Home > ScamsElvis' Graceland faces foreclosure auction; granddaughter Riley Keough sues to block sale -Prime Money Path
Elvis' Graceland faces foreclosure auction; granddaughter Riley Keough sues to block sale
View
Date:2025-04-12 00:45:45
Elvis Presley's iconic Graceland home may be put up for public auction, but the rock legend's granddaughter Riley Keough is fighting the sale and has filed a lawsuit claiming fraud.
A public notice for the foreclosure sale of the Memphis estate was posted earlier this month. The notice alleges that Promenade Trust, which controls Graceland at 3734 Elvis Presley Blvd., owes $3.8 million after failing to repay a loan taken out on May 16, 2018.
The public auction was scheduled for Thursday, May 23, at the Shelby County Courthouse in Memphis, but a temporary restraining order has been granted, according to Keough's legal team. The actress, 34, inherited the Promenade Trust after her mother Lisa Marie Presley, 54, died in January 2023.
Is Graceland for sale?
Memphis-based law firm Morton and Germany is representing Keough and the Promenade Trust. Attorney Jeff Germany confirmed the temporary restraining order is in place, which delays Thursday's sale.
Need a break? Play the USA TODAY Daily Crossword Puzzle.
Naussany Investments and Private Lending in Missouri says Graceland was used as collateral and that Lisa Marie Presley failed to repay the loan. Keough, on behalf of the Promenade Trust, has filed a lawsuit against Naussany Investments. In the lawsuit, Keough claims the company presented fraudulent documents regarding the loan and unpaid sum in September 2023.
"Lisa Marie Presley never borrowed money from Naussany Investments and never gave a deed of trust to Naussany Investments," the lawsuit claims.
The lawsuit was filed on May 15 in Shelby County Chancery Court. An injunction hearing is scheduled for Wednesday, May 22, between both parties in Chancery Court.
Graceland did not immediately respond to a request for comment on Monday.
Who owns Graceland?
Elvis Presley purchased Graceland in 1957. The 179-acre property was inherited by Lisa Marie, his only child, following the King of Rock 'n' Roll's death in 1977, and Keough has inherited the home.
Elvis, his parents, Lisa Marie and her son, Benjamin Keough, are buried on the grounds in the Meditation Garden. His ex-wife, Priscilla Presley, plans to be buried near Elvis at Graceland upon her death.
Contributing: Kim Willis, USA TODAY
veryGood! (88814)
Related
- Apple iOS 18.2: What to know about top features, including Genmoji, AI updates
- Chipotle brings back carne asada nationwide, adds Carne Asada Quesadilla to menu
- California lawmakers vote to let legislative employees join a labor union
- US semiconductor production is ramping up. But without STEM workforce, we'll lose the race.
- San Francisco names street for Associated Press photographer who captured the iconic Iwo Jima photo
- Climate change is un-burying graves. It's an expensive, 'traumatic,' confounding problem.
- Mitt Romney says he's not running for reelection to the Senate in 2024
- Escaped murderer planned to flee to Canada, says cops almost stepped on him
- Senate begins final push to expand Social Security benefits for millions of people
- Mississippi should revive process to put issues on ballot, Secretary of State Watson says
Ranking
- Nevada attorney general revives 2020 fake electors case
- Dancing With the Stars Season 32 Cast Revealed: Did 5 Random People Recognize the Celebs?
- *NSYNC's Reunion Continues With New Song Better Place—Listen Now
- Now's your chance to solve a crossword puzzle with Natasha Lyonne
- DoorDash steps up driver ID checks after traffic safety complaints
- Scotland player out of Rugby World Cup after slipping on stairs. Not the sport’s first weird injury
- Parents of autistic boy demand answers after video shows school employee striking son
- Atlanta Braves lock up sixth straight NL East title
Recommendation
Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Triathlon
What's next for Jets quarterback Aaron Rodgers after Achilles injury?
Lincoln Riley says Oklahoma fans threatened family's safety after he took USC job
Communities across Appalachia band together for first-ever 13-state Narcan distribution event
Intellectuals vs. The Internet
Chorus of disapproval: National anthems sung by schoolkids at Rugby World Cup out of tune with teams
California school district pays $27M to settle suit over death of teen assaulted by fellow students
On 'GUTS', Olivia Rodrigo is more than the sum of her influences