The future of Elvis Presley’s Graceland may be decided in court on Wednesday

CNN
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The future of Graceland, Elvis Presley’s historic home in Memphis, could be decided in court Wednesday after a bizarre set of events pitted the late singer’s granddaughter against a shadowy corporation that claimed Elvis’ daughter gave her the deed to Graceland.

A hearing is scheduled for 10 a.m. ET in Chancery Court in Shelby County, Tennessee to determine whether the Graceland foreclosure auction can proceed. The auction was scheduled to take place on Thursday but was halted — at least temporarily — when Presley’s granddaughter, Danielle Riley Keough, Lawsuit to prevent this.

Keough acquired the property and popular tourist attraction after her mother and Elvis’ daughter, Lisa Marie Presley, He died in January 2023.

Who owns the rights to Graceland?

But a company called Naussany Investments & Private Lending LLC claims that Lisa Marie Presley failed to repay a $3.8 million loan made to her — and Naussany claims that Presley offered Graceland as collateral for the loan. Seeking payment, she scheduled an auction for the property.

This was not a typical foreclosure sale. Keogh filed a lawsuit earlier this month, claiming that no such loan existed. It also claims that Nosani is not a real company.

Keough’s lawsuit claims that “these documents are fraudulent.” “Lisa Marie Presley never borrowed any money from Naussany Investments and never provided a deed of trust to Naussany Investments.”

The lawsuit alleges that Naussany Investments & Private Lending LLC “appears to be a false entity created for the purpose of fraud.”

Although Nosani provided what appeared to be a notarized 2018 promissory note signed by Lisa Marie Presley to offer Graceland as security, Keough’s lawsuit said that was forged. In a signed affidavit, the notary denied authenticating anything signed by Lisa Marie Presley.

When CNN tried to contact Naussany Investments & Private Lending LLC by phone, the number was no longer in service. The company was listed in a court document from Keough’s attorneys as being located in Kimberling, Missouri, but CNN was unable to locate a Missouri company by that name through the Secretary of State’s office. CNN was also unable to locate a business with that name when searching nationwide.

Elvis Presley, the company that manages Presley’s estate, agreed that Nosani’s claim was illegal.

“Elvis Presley Enterprises can confirm that these claims are fraudulent,” the company said. “There is no foreclosure sale. Simply put, the countersuit being filed is to stop the fraud.”

A judge last week issued a temporary restraining order, barring Nosani from selling Graceland. Wednesday’s session could determine whether or not the sale can go ahead.

After the death of Lisa Marie Presley, Kew and her grandmother, Priscilla Presley, She fought over the rights to her property – Including Graceland. In the end, Keough and Presley Settlementand Keough became the sole owner of Graceland.

In 2004, Lisa Marie Presley sold 85% of the assets of Elvis Presley Enterprises The deal is reportedly worth more than $100 million. But it maintained full ownership of Graceland Palace Elvis’ personal items are housed in what is now the Graceland Museum, according to the Graceland website.

Graceland is one of the largest tourist attractions in the South, with hundreds of thousands of people visiting each year, Graceland says on its website. Lisa Marie Presley earned a seven-figure year from her, according to a lawsuit in her 2022 divorce.

Keough was born to parents Lisa Marie Presley and musician Danny Keough in 1989. She is a famous actress, having appeared in Mad Max Fury Road and other Hollywood films. She also appeared in the movie “Under the Bridge” on Hulu.

Keough was first credited as an actor in the film The Runaways in 2010, and has done a number of acting roles. She recently starred in the film “Daisy Jones & The Six” where she played a troubled musician in a band about to make it big.

In an article for Vanity Fair, Keough revealed that she has a daughter, Tupelo Storm Smith Petersen, who was born via surrogate in August 2022. Elvis was born in Tupelo, Mississippi, in 1935, but Keough said the name is a tribute to her. Late brother, Benjamin Storm Keogh, Who died in 2020 at the age of 27.