Graceland facing foreclosure auction; Elvis heir fights to block sale

MEMPHIS, Tenn. (WREG) — Graceland, the historic home of Elvis Presley, is set to be sold off at a foreclosure auction this week in Tennessee, but his granddaughter is fighting to block the sale.

A temporary restraining order on the sale was granted Monday, according to an attorney for heir Riley Keough. An injunction hearing is set for Wednesday.

A notice published this month states that Graceland and the surrounding acreage on Elvis Presley Boulevard in Memphis, Tennessee, is set to be auctioned off for cash to the highest bidder on the Shelby County Courthouse steps on May 23.

The legal notice claims Lisa Marie Presley signed a deed of trust in 2018, securing a $3.8 million loan with a Missouri company called Naussany Investments and Private Lending, using Graceland as collateral. The company alleges she never paid the money back before she passed away last January.

But Lisa Marie Presley’s daughter, Riley Keough, said in a 60-page lawsuit filed against Naussany Investments on May 15 that her mother never borrowed any money from the company.

“These documents are fraudulent,” the suit states.

Keough claims Lisa Marie Presley’s signatures on the deed are forgeries, and that Naussany Investments is not a real entity. According to the suit, the notary involved in the deed denies that she notarized Lisa Marie Presley’s signature or ever met her.

Nexstar’s WREG has reached out to Graceland officials for comment. A number listed for Naussany was not in service.

Elvis Presley bought the Graceland mansion in the Whitehaven area of Memphis in 1957. Lisa Marie inherited Graceland after her father’s death in 1977, and it opened to the public as a museum in 1982.

Lisa Marie Presley died in January 2023. Her daughter became heir to the estate and trustee of the Promenade Trust.

About 600,000 visitors tour Graceland each year. The house was named in a survey last year as the most popular museum in the U.S.