A Tennessee judge on Wednesday halted the auction of Graceland, Elvis Presley’s former home, by a company that claimed the late musician’s estate failed to repay a loan that was allegedly secured using the Memphis property as collateral.
The injunction keeps in place a previous restraining order that was granted on May 20, after actress Riley Keough, granddaughter of Elvis Presley, filed a lawsuit citing fraud in an attempt to stop the public sale of her grandfather’s historic estate.
“As the court has now made clear, there was no validity to the claims,” Elvis Presley Enterprises told The Epoch Times in a statement after Wednesday’s 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.”
Neither Ms. Keough nor lawyers for Naussany Investments—the company attempting to auction the estate—appeared in court Wednesday.
Earlier in May, a public notice of foreclosure sale was posted with claims that Ms. Keough’s late mother, Lisa Marie Presley, allegedly signed a Deed of Trust to Naussany Investments & Private Lending LLC in 2018, using Graceland as collateral for a $3.8 million loan.
Ms. Presley, 54, died from a bowel obstruction in January 2023.
Following Ms. Presley’s death, her oldest daughter, Ms. Keough, 34, became the sole trustee of Promenade Trust, which owns the 13-acre Graceland estate. In 1957, when Mr. Presley was 22 years old, he purchased Graceland for just over $100,000. The home was originally built in 1939.
Alleged Fraudulent Documents
On May 15, lawyers for Ms. Keough filed a 60-page lawsuit on behalf of the trust, citing Naussany Investments’ claims as fraudulent.“These documents are fraudulent,” Ms. Keough’s lawyers wrote. “Lisa Marie Presley never borrowed money from Naussany Investments and never gave a deed of trust to Naussany Investments.”
Ms. Keough’s lawsuit states that Naussany Investments, which is allegedly owned by Kurt Naussany, is not a real entity.
The Epoch Times attempted to contact Mr. Naussany, but the phone number listed for him was no longer in service.
Ms. Keough’s lawyer also claims that Ms. Presley’s signatures on the loan documents are forgeries. Copies of the documents are included as exhibits in the lawsuit.
“While the documents bear signatures that look like the signatures of Lisa Marie Presley, Lisa Marie Presley did not, in fact, sign the documents,” the court document reads.
The lawsuit also noted “two problems with the notarial acknowledgments that strongly indicate the documents are forgeries.”
One of the issues is related to the language used in the notarial document, which was allegedly signed in Duval County, Florida.
“First, the notarial acknowledgment on the Standard Promissory Note includes standard language that it was acknowledged before the notary ‘by means of ( ) physical presence or ( ) online notarization.’
Online notarization was not permitted in Florida until 2020, but the document was allegedly signed in 2018.
The second issue involves the notary public, Kimberly Philbrick, whose signature appears on the promissory note and deed.
Ms. Philbrick has denied signing the documents.
“I have never met Lisa Marie Presley, nor have I ever notarized a document signed by Lisa Marie Presley,” reads the affidavit signed by Ms. Philbrick. “I do not know why my signature appears on this document.”
Heirs to the Graceland Estate
Elvis Presley died in August 1977 at the age of 42. His daughter, Ms. Lisa Marie Presley, was 9 years old when the singer and actor died from an apparent heart attack, and she was the sole heir to his estate.In 1982, Graceland opened as a museum and tourist attraction as a tribute to the “Jailhouse Rock” singer. Hundreds of thousands of people visit the museum each year. Across the street from Graceland is an Elvis Presley-themed entertainment complex owned by Elvis Presley Enterprises.
In 2005, Ms. Lisa Marie Presley sold 85 percent of Elvis Presley Enterprises (EPE), including rights to the singer’s name and management of Graceland operations, in a deal reportedly worth $100 million.
She maintained a 15 percent ownership, which she left to her three daughters—Ms. Keough, whom she shared with ex-husband Danny Keough, and 15-year-old twins Harper and Finley, whom she shared with her ex-husband Michael Lockwood. Her son Benjamin Keough, 27, died by suicide in 2020.
It is unclear whether another hearing date has been set.
