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Graceland

by | Jun 9, 2024 | CST Articles | 0 comments

A Shelby County judge issued an injunction recently halting the sale of the Graceland estate, which was set for a foreclosure auction, prompting the company involved to withdraw its claim.

“The court will enjoin the sale as requested because, one, the real estate is considered unique under Tennessee law. And in being unique, the loss of the real estate would be considered irreparable harm,” Chancellor Joe Dae Jenkins said. “Graceland is part of this community and well loved by this community and around the world.”

Jenkins said the notary whose signature is on the Deed of Trust from 2018 has said in a sworn affidavit that she did not notarize Lisa Marie Presley’s signature. That brings into question the authenticity of the signature and of the Deed of Trust, he said.

“As the court has now made clear, there was no validity to the claims,” Elvis Presley Enterprises said in a statement sent after Wednesday’s injunction hearing. “There will be no foreclosure. Graceland will continue to operate as it has for the past 42 years, ensuring that Elvis fans from around the world can continue to have a best-in-class experience when visiting his iconic home.”

Naussany Investments and Private Lending LLC claims that the late Lisa Marie Presley signed a Deed of Trust in 2018 securing a $3.8 million loan using Graceland as collateral.

However, the Presley family says those claims are fraudulent.

Lisa Marie Presley’s daughter and heir to Graceland, said in a 60-page lawsuit against Naussany Investments filed May 15 that her mother never borrowed any money from the company.

Elvis Presley bought the Graceland mansion in the Whitehaven area of Memphis in 1957. Lisa Marie inherited Graceland after her father’s death in 1977, and it opened to the public as a museum in 1982.

Lisa Marie Presley died in January 2023. Her daughter became heir to the estate and trustee of the Promenade Trust.

About 600,000 visitors tour Graceland each year. The house was named in a survey last year as the most popular museum in the United States.