Connect with us

News

Graceland’s Foreclosure Auction Is Being Fought By Elvis’ Son

Avatar of Salman Ahmad

Published

on

Graceland
In an Aug. 15, 2017 file photo, fans wait in line outside Graceland, Elvis Presley’s Memphis home, in Memphis, Tenn. (AP Photo/Brandon Dill, File)

(CTN News) – This week, the state of Tennessee will hold a foreclosure auction in which the famous Graceland home, which is often referred to as Elvis Presley’s home, will be auctioned off.

In contrast, his granddaughter is exerting a great deal of effort in order to prevent the transaction from taking place.

According to claims made by a legal agent for Riley Keough, the heir, it was announced on Monday that a temporary restraining order had been imposed on the disposition of the property.

The legal representative has received this information. An injunction hearing will take place on Wednesday. It is scheduled to take place at the hearing.

It is planned that on May 23, Graceland and the surrounding area on Elvis Presley Boulevard will be placed up for auction on the steps of the Shelby County Courthouse in Memphis, Tennessee. The cash prize will be awarded to the person who places the highest bid. This information was included in the notice that was sent out earlier this month despite the fact that it was already public knowledge.

According to the notification from the court, Lisa Marie Presley signed a deed of trust in the year 2018, which enabled her to acquire a loan of $3.8 million from a corporation in the state of Missouri that is known as Naussany Investments and Private Lending.

For the loan to work, Graceland had to be used as collateral.

In January of this year, she passed away, and the corporation claims that she did not return the money before she went away. A number of charges have been made by the corporation, and this is one of them.

On the other hand, Riley Keough, Lisa Marie Presley’s daughter, asserted in a sixty-page lawsuit that was submitted against Naussany Investments on May 15 that her mother had never borrowed any money from the company.

The case was brought over the company’s financial practices. Naussany Investments was the target of the legal action that was taken.

On the basis of the charges that were presented in the complaint, the objects in question are considered to be “fraudulent.”

In accordance with Keough’s assertions, the signatures on the deed that were allegedly signed by Lisa Marie Presley are not genuine, and Naussany Investments is not a legitimate business organization.

A further assertion made by Keough is that Lisa Marie Presley was the one who signed the deed. The notary who was engaged in the deed is reported to have denied that she had met Lisa Marie Presley or that she had notarized her signature, as was mentioned in the complaint.

This is something that was cited in the complaint. Some of the charges that have been made against her include this particular one.

In an effort to obtain a reaction from Graceland officials,

WREG of Nexstar has reached out to them in an effort to learn more about their position. The phone number that was supplied for Naussany did not function properly, which is a really unfortunate coincidence.

The year 1957 marked the year when Elvis Presley made the purchase of the Graceland house, which was located in the Whitehaven neighborhood of Memphis.

Following the passing of Lisa Marie’s father in 1977, the estate of Graceland was transferred to her, and in 1982, it was opened to the general public as a museum. To this day, Graceland is a museum.

Beginning in the month of January 2023, Lisa Marie Presley has passed away. Her passing has taken place. Her daughter not only became the heir to the estate, but she also became the trustee of the Promenade Trust. Her daughter passed away in the year 2000.

The annual number of tourists who visit Graceland is estimated to be somewhere in the neighborhood of 600,000.

According to the results of a survey that was conducted the previous year, it was discovered that the home was the museum that attracted the greatest number of visitors in the United States.

SEE ALSO:

May’s Headline Inflation Is Expected To Drop Below 14 Percent

Salman Ahmad is a seasoned writer for CTN News, bringing a wealth of experience and expertise to the platform. With a knack for concise yet impactful storytelling, he crafts articles that captivate readers and provide valuable insights. Ahmad's writing style strikes a balance between casual and professional, making complex topics accessible without compromising depth.

Continue Reading

CTN News App

CTN News App

Recent News

BUY FC 24 COINS

compras monedas fc 24

Advertise here

Volunteering at Soi Dog

Find a Job

Jooble jobs

Free ibomma Movies