Current:Home > FinanceGraceland is not for sale, Elvis Presley’s granddaughter Riley Keough says in lawsuit -EquityExchange
Graceland is not for sale, Elvis Presley’s granddaughter Riley Keough says in lawsuit
View
Date:2025-04-15 04:26:49
MEMPHIS, Tenn. (AP) — Riley Keough, the granddaughter of Elvis Presley, is fighting plans to publicly auction his Graceland estate in Memphis after a company tried to sell the property based on claims that a loan using the king of rock ’n’ roll’s former home as collateral was not repaid.
A public auction for the estate had been scheduled for Thursday this week, but a Memphis judge blocked the sale after Keough sought a temporary restraining order and filed a lawsuit, court documents show.
A public notice for a foreclosure sale of the 13-acre estate posted earlier in May said Promenade Trust, which controls the Graceland museum, owes $3.8 million after failing to repay a 2018 loan. Keough inherited the trust and ownership of the home after the death of her mother, Lisa Marie Presley, last year. Lisa Marie Presley had used Graceland as collateral for the loan, the lawsuit said.
Naussany Investments and Private Lending said Lisa Marie Presley failed to pay back the loan and sought to sell the estate on the courthouse steps, according to the foreclosure sale notice. Keough, on behalf of the Promenade Trust, sued last week, claiming that Naussany presented fraudulent documents regarding the loan and unpaid sum in September 2023.
“These documents are fraudulent,” Keough’s lawyer wrote in a lawsuit. “Lisa Maria Presley never borrowed money from Naussany Investments and never gave a deed of trust to Naussany Investments.”
W. Bradley Russell, a lawyer for Naussany Investments, declined comment Tuesday. No one immediately responded to emails sent to several addresses associated with the company.
An injunction hearing is scheduled for Wednesday in Shelby County Chancery Court.
“Elvis Presley Enterprises can confirm that these claims are fraudulent. There is no foreclosure sale. Simply put, the counter lawsuit has been filed is to stop the fraud,” Elvis Presley Enterprises Inc. said in a statement Tuesday.
Graceland opened as a museum and tourist attraction in 1982 as a tribute to Elvis Presley, the singer and actor who died in August 1977 at age 42. It draws hundreds of thousands of visitors each year.
___
Associated Press reporters Sarah Brumfield in Silver Spring, Maryland, and Heather Hollingsworth in Mission, Kansas, contributed to this story.
veryGood! (8371)
Related
- Arkansas State Police probe death of woman found after officer
- Doing the Dry January challenge? This sober life coach has tips for how to succeed.
- Colorado Springs mother accused of killing 2 of her children arrested in United Kingdom
- Driver fleeing police strikes 8 people near Times Square on New Year's Day, police say
- Meta donates $1 million to Trump’s inauguration fund
- Michael Penix Jr. leads No. 2 Washington to 37-31 victory over Texas and spot in national title game
- 2 dead after motorcycle crash ejects them off Virginia bridge: police
- Owen the Owl was stranded in the middle the road. A Georgia police officer rescued him.
- B.A. Parker is learning the banjo
- Israel-Hamas war will go on for many more months, Netanyahu says
Ranking
- Senate begins final push to expand Social Security benefits for millions of people
- The Rock returns to WWE on 'Raw,' teases WrestleMania 40 match vs. Roman Reigns
- Zapatista indigenous rebel movement marks 30 years since its armed uprising in southern Mexico
- Low-Effort Products To Try if Your 2024 New Year’s Resolution Is to Work Out, but You Hate Exercise
- US wholesale inflation accelerated in November in sign that some price pressures remain elevated
- 4 dead, 2 in critical condition after Michigan house explosion
- Mexican actor Ana Ofelia Murguía, who voiced Mama Coco in ‘Coco,’ dies at 90
- Michigan vs. Alabama Rose Bowl highlights, score: Wolverines down Alabama in OT thriller
Recommendation
Whoopi Goldberg is delightfully vile as Miss Hannigan in ‘Annie’ stage return
Michigan beats Alabama 27-20 in overtime on Blake Corum’s TD run to reach national title game
After 180 years, a small daily newspaper in the US Virgin Islands says it is closing
16-year-old boy fatally stabbed on a hill overlooking London during New Year’s Eve
Elon Musk's skyrocketing net worth: He's the first person with over $400 billion
It's over: 2023 was Earth's hottest year, experts say.
Gypsy Rose Blanchard Speaks Out in First Videos Since Prison Release
Michigan vs. Alabama Rose Bowl highlights, score: Wolverines down Alabama in OT thriller