This is a really bonkers story. The backstory: when Lisa Marie Presley passed away, Riley Keough basically had to deal with all of the Elvis estate issues on her own, given that Riley’s half-sisters are still under the age of 18. The money and the estate belongs to all three sisters, but Riley is in control right now. Riley spent months dealing with Priscilla’s attempts to continue to profit from Graceland and the Elvis estate, and now Riley is dealing with one of the craziest things I’ve seen in my life. Apparently, there’s a company trying to “sell” Graceland at auction because this company claims that Lisa Marie Presley took out a loan, using Graceland as collateral. But the whole thing is likely bullsh-t, and even if it was the case… Graceland is literally a Memphis landmark and on some kind of preservation registry. Behold, one of the weirdest stories of the week:
Graceland, the iconic home and burial site of the legendary Elvis Presley, is facing a dramatic and emotional turn of events. This historic estate, a symbol of the King of Rock and Roll, is set to be sold at a foreclosure auction this Thursday. The news has sent shockwaves through the Presley family and Elvis’ legion of fans around the world. According to a legal notice published earlier this month, Graceland and the surrounding land on Elvis Presley Boulevard will be auctioned off for cash to the highest bidder at Shelby County Courthouse on May 23, as reported by WREG-TV News.
Elvis’ granddaughter, actress Riley Keough, 34, who currently owns Graceland, is fiercely challenging the sale with a lawsuit, claiming it is ‘fraudulent.’ A temporary restraining order on the sale was issued on Monday, and an injunction hearing is set for Wednesday.
The legal notice claims that Riley’s mother, the late Lisa Marie Presley, allegedly signed a Deed of Trust in 2018 to secure a $3.8 million loan, using Graceland as collateral. This loan was purportedly taken through a Missouri company called Naussany Investments and Private Lending. Now, the company claims Lisa Marie did not repay the money before her untimely death at 54 last year.
However, Riley’s lawsuit, filed on May 15 in Shelby County Chancery Court, disputes these claims, stating that her mother did not borrow money from the company. “These documents are fraudulent,” the lawsuit declares, alleging that Lisa Marie’s signatures on the deed are forgeries.
The lawsuit also claims that Naussany Investments is not a legitimate company. The notary listed on the documents has denied notarizing Lisa Marie’s signature or ever meeting her.
A fake notarization??? My question is… if Naussany Investments is an illegitimate company, how did they just swoop in and declare “we’re putting Graceland up for public auction” and everyone just went along with it? I’ve felt so sorry for Riley this whole time, ever since her mother passed away. Riley has had so much on her plate, trying to untangle all of Priscilla and Lisa Marie’s financial messes and figure out how to keep Graceland running as a tourist destination. Riley seems to have good lawyers though and she seems like a very sensible person. But wow, this really is bonkers.
Photos courtesy of Avalon Red.
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- Riley Keough bei der Verleihung der 81. Golden Globe Awards im Beverly Hilton Hotel. Beverly Hills, 07.01.2024 *** Riley Keough at the 81 Golden Globe Awards at the Beverly Hilton Hotel Beverly Hills, 07 01 2024 Foto:xJ.xBlocx/xFuturexImagex globes_2024_4332,Image: 835178373, License: Rights-managed, Restrictions: imago is entitled to issue a simple usage license at the time of provision. Personality and trademark rights as well as copyright laws regarding art-works shown must be observed. Commercial use at your own risk., Model Release: no, Credit line: IMAGO/Jennifer Bloc / Avalon
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- BEVERLY HILLS, LOS ANGELES, CALIFORNIA, USA – JANUARY 07: Riley Keough wearing Chanel arrives at the 81st Annual Golden Globe Awards held at The Beverly Hilton Hotel on January 7, 2024 in Beverly Hills, Los Angeles, California, United States.,Image: 835210882, License: Rights-managed, Restrictions: , Model Release: no, Pictured: Riley Keough, Credit line: Xavier Collin / Image Press Agency / Avalon
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- LOS ANGELES, CA – APRIL 15: Riley Keough at the LA premiere of Hulu s Under the Bridge on April 15, 2024 at the DGA Theater in Los Angeles, California Copyright: xFayexSadoux,Image: 865214970, License: Rights-managed, Restrictions: imago is entitled to issue a simple usage license at the time of provision. Personality and trademark rights as well as copyright laws regarding art-works shown must be observed. Commercial use at your own risk., Model Release: no, Credit line: IMAGO/Faye Sadou / Avalon
Unfortunately their are a lot of scammers out there just looking to exploit someone who is mourning the death of her mother so they think they can get away with it because she is not paying to much attention to Graceland at the moment. Just some really sick people out there trying to make a buck of someone in mourning.
That’s classic real estate fraud producing fake documents to sell a property you don’t own or have a fake mortgage on. It works a lot of the time just not usually on a property quite so famous lol.
Omg, that article was bonkers, but your comment on this being classic real estate fraud that often works…how?! If you fraudulently sell property that isn’t yours, how can that work? You’d need to turn back everything about the sale and revert any changes to the original state, and anyone who was part of this could also be prosecuted, no?
maybe this is where Don McLean should spend his energy since he cares so much
Was just thinking this.
American swindlers looking to fraudulently sell Graceland out from under a grieving daughter is def worth more of a mention than Prince Harry being bemused by carpet on the walls.
But Harry married a black woman so ….
Graceland just seems like a headache to run. If I were Riley, I’d turn over the house to the state of Tennessee to run but keep the merchandising and catalogue business.
The state that expelled two lawmakers for calling for gun control? I don’t think that would be a wise move.
Isn’t that what Minnesota ended up doing with Prince’s estate?
It’s not a too wild concept, tbh, especially considering the historical landmark status of it.
Lisa Marie sold Elvis’ name, image and likeness rights as well as the management of the tourist attraction over a decade ago. Those rights were sold most recently to Authentic Brands Group in 2013.
LM retained ownership of the physical estate, the artifacts inside and the estate property because it is the burial place and at the time some family members lived on the estate grounds.
Elvis’ family has not had a hand in running the tourist attraction for a long time.
Mortgage fraud is a thing. Part of the reason to defund the police is that they don’t go after this sort of stuff. We need people who fight actual crime, not just act out their authoritarian fantasies.
Agree.
The police should be like the fire department. They’re when you need them. Not busting your chops or murdering you when you are walking down the street being black.
But honestly – the American police force is all about might and control and not about crime and community enrichment or safety.
Attorney here. Mortgage fraud is a civil matter though. Cops can deal with burglaries or trespassing, but not squatting or mortgage fraud. In most states those last two are designated to civil courts. Most cops would love nothing more than to evict or arrest squatters, but in most states after 30 days the squatter becomes a tenant that must be evicted. In my personal experience the first question they ask the homeowner is how long the squatter has been living there. If less than 30 days they arrest.
That is a lot to deal with, I hope she has a good team truly looking out for the family’s best interests.
Oh yeah, I can see how this could be a scam. Keep an eye on the obits and property records and while the grieving family is dealing with 5 million other things, foreclose and sell property with forged documents. Then disappear with the money and leave the purchaser and inheritors with a mess. Terrible. But how they thought no one would notice a fraudulent auction for Graceland? Come on!
What a crazy turn of events and one more headache for her to deal with. LM always seemed like a mess to me, so it’s not shocking to hear her finances were likely a mess too. I’m curious to know how often this type of scam has happened to other estates…
On a slightly different note, just wanted to say that Riley is an amazing actress and I hope we can see her in more cool roles soon. Her acting and singing in Daisy and the Six was outstanding! Loved her.
Give this girl a break!