Elvis Presley’s Graceland home sale halted by court ahead of foreclosure auction after Lisa Marie ‘failed to pay loan’
TENNESSEE courts have halted the sale of Elvis Presley’s Graceland home ahead of the property’s foreclosure auction.
The Memphis mansion was set for sale on Thursday after the singer’s daughter, Lisa Marie, reportedly failed to pay the loan on the home.
A Shelby County judge issued the order on Wednesday to cease the auction of the estate, according to WREG.
“The court will enjoin the sale as requested because, one, the real estate is considered unique under Tennessee law,” chancellor Joe Dae Jenkins said.
“And in being unique, the loss of the real estate would be considered irreparable harm.”
The chancellor revealed that the notary who signed the home’s 2018 Deed of Trust said in a sworn affidavit that she did not notarize Lisa Marie Presley’s signature.
Therefore, Jenkins claimed both the signature itself and the authenticity of the Deed has been called into question.
The Tennessee judge has ordered a trial delay to allow the opposition time to defend claims made by the Presley heirs.
Missouri firm Naussany Investments and Private Lending LLC claimed that the late Lisa Marie allegedly signed a 2018 Deed of Trust to secure a $3.8 million loan, pledging Graceland as collateral.
But the Presley family has slammed the firm, saying their claims are fraudulent.
Lisa Marie’s mother and Elvis’ ex-wife, Priscilla Presley, 78, responded via her profile on X, formerly Twitter, writing, “It’s a scam!”
The singer/songwriter, who died last January from cardiac arrest, was left as the sole heir to Graceland, which has since passed to her daughter, actress Danielle Riley Keough.
Danielle filed a 60-page lawsuit against Naussany Investments on May 15, alleging that her mother never borrowed money from the firm.
The lawsuit states, “These documents are fraudulent.”
In addition, on Tuesday, the Shelby County Register of Deeds office also said that there is no record of a deed related to the Graceland Estate on file.
According to News Channel 3 Memphis, no one from Naussany Investments was present during the Wednesday court session.
Elvis resided in Graceland for 20 years until his death in 1977.
Earlier this week, it was revealed that an investment firm had put the palatial property on the market.
The company claims that Lisa Marie Presley, who died in January last year, used Graceland as collateral when securing a loan.
The 120-acre property, which has been valued at half a billion dollars, can only be saved if Hollywood actress Riley succeeds in the court case.
The Mad Max star’s lawyers have accused Naussany of filing “fraudulent” documents, claiming that Lisa Marie’s signatures on them were “forgeries.”
The 34-year-old has found herself in a slew of legal troubles since the estate fell into her possession after the death of her mother at 54.
Riley has battled her grandmother, Priscilla, over Elvis’s rock fortune, and also dealt with the debts left behind by Lisa Marie.
In her court filing, the Presley heir alleges,“The purported note and deed of trust are products of fraud and those individuals who were involved in the creation of such documents are believed to be guilty of the crime of forgery.”
Lisa Marie inherited Graceland when she was just 9 years old after Elvis died of a drug overdose at age 42.
In 2005, she sold 85 percent of Elvis Presley Enterprises to pay off her $15 million debts, as suggested by her financial advisor.
But years later, new court papers suggested she was again $13 million in debt, which led her to default on a mortgage for her Grade II listed home in East Sussex.
Around that time, Naussant Investment claimed that Lisa Marie borrowed $3 million from the firm.