Judge blocks auction of Elvis Presley's Graceland estate

Judge blocks auction of Elvis Presley's Graceland estateA judge in Tennessee has temporarily halted a foreclosure sale of Graceland, the historic home of Elvis Presley in the southern US state.

by AFP

22-05-2024 19:46

in Music

A judge in Tennessee has temporarily halted a foreclosure sale of Graceland, the historic home of Elvis Presley. Image Pixabay

A judge in Tennessee on Wednesday temporarily halted a foreclosure sale of Graceland, the historic home of Elvis Presley in the southern US state.

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The auction of the property had been scheduled to take place on Thursday but was paused by Shelby County Chancellor JoeDae Jenkins.

Presley's granddaughter, actress Riley Keough, had filed a lawsuit seeking to block the sale of the sprawling estate in Memphis.

Collateral A company called Naussany Investments & Private Lending was seeking to auction off Graceland, claiming that Keough's mother, Lisa Marie Presley, had put it up as collateral in 2018 for a $3.8 million loan.

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Lisa Marie Presley, Elvis's only child, died in January 2023.

Keough, 34, who starred in Mad Max: Fury Road and The Girlfriend Experience, claimed in her lawsuit filed on May 15 that the loan documents were fraudulent.

Lisa Marie Presley did not give a deed of trust to Graceland or to any other property to Naussany Investments & Private Lending, the suit said. These documents are forgeries.

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Jenkins said he was halting the auction until a trial can be held to determine the authenticity of the documents.

The court will enjoin the sale as requested, the judge said at a live-streamed court hearing.

The real estate is considered unique under Tennessee law and, being unique, the loss of the real estate would be considered irreparable harm.

Graceland will continue to operate' Elvis Presley Enterprises Inc. welcomed the decision.

As the court has now made clear, there was no validity to the claims, it said in a statement.

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.

By Garrin Lambley Agence France-Presse

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