Judge Halts Auction of Elvis’ Graceland Home

May 23, 2024
Judge Halts Auction of Elvis’ Graceland Home

Elvis Graceland Living Room” by Mobilus In Mobili is licensed under CC BY-SA 2.0.

A Tennessee judge has halted the auction sale of Elvis’ famed Graceland residence in Memphis, Tenn. The move came after the granddaughter of the late musician Riley Keough took legal action to stop the court-approved sale of the iconic 13.8-acre estate after assuming ownership of the residence following the death of her mother, Lisa Marie, in January 2023. 

The fate of the dwelling was first called into question in 2018 when the deed of trust was reportedly signed by Elvis’ only child, Lisa Marie, and secured for a $3.8 million loan via Naussany Investments and Private Lending LLC out of Missouri. In a complex twist, the company claims Graceland represents collateral from the loan, which was never reimbursed, sparking a legal dispute. 

Keough has been a fundamental part of the fight against Graceland’s surface at auction. It supports her claim by mentioning that her mother never signed or borrowed money from Naussany Investments and Private Lending LLC. A lawsuit filed by Keough on May 15 also asserted that the creditor does not exist, and documents were never notarized, authorizing the agreement. 

Elvis Presley Enterprises and granddaughter Keough have adamantly opposed the planned sale of the famous dwelling, calling it a “scheme” stemming from the investment and lending company. 

Little is known about what would happen if the home hit the market. However, previous examples involving the sale of famous real estate proved detrimental to the physical properties associated with the artist’s legacy, often resulting in the demolishment.