Foreclosure sale of Graceland mansion postponed

A company placed a lien on the property and had scheduled a foreclosure sale of Graceland for May 23, 2024.

MEMPHIS, Tenn. — A Shelby County judge issued an injunction Wednesday, May 22, to postpone a proposed foreclosure sale of Graceland mansion. 

An LLC called Naussany Investments and Private Lending claims Lisa Marie Presley, who died in January 2023, borrowed $3.8 million from its company using the deed to Graceland as collateral. According to the latest filing, the company placed a lien on the property and had scheduled a foreclosure sale of Graceland for Thursday, May 23, 2024. 

The following is a statement sent to ABC24 from someone claiming to be Gregory Naussany:

“Due to the Deed of Trust not being recorded and the loan being obtained in different state, legal action would have to be filed in multiple states and NAUSSANY Investments & Private Lending will not acquire to proceed. That comes from consultation of the lawyers for the company. There was no harm meant on Ms. Keough for her mother’s…mis habits and mismanaging of money. The company will be withdrawing all claims with prejudice.”

In a countersuit filed May 15, 2024, Riley Keough, Lisa Marie Presley’s daughter, claims the documents alleging the debt are fraudulent. Keough is the trustee for Promenade Trust, according to her filing, which currently owns Graceland.

The judge said there was question regarding the authenticity of Presley’s signature on the deed of trust — allegedly signed in 2018 — since the notary swore they did not notarize the signature.

“The court will enjoin the sale as requested because, one, the real estate is considered unique under Tennessee law. And in being unique, the loss of the real estate would be considered irreparable harm,” the judge said.

The trial on the dispute will be delayed to allow Naussany Investments to provide a defense against the fraud claims.

Keough’s complaint alleges her mother never borrowed money from Naussany Investments, and also claims that the company is not “a real entity.”

“Naussany Investments & Private Lending LLC appears to be a false entity created for the purpose of defrauding the Promenade Trust, the heirs of Lisa Marie Presley, or any purchaser of Graceland at a non-judicial sale,” said Keough’s suit.

The countersuit goes on to claim that a deed of trust purportedly signed in May 2018 in Florida was never recorded in Shelby County. It claims the documents which “bear signatures that look like the signatures of Lisa Marie Presley” are forgeries and that Presley never signed any such documents.

Keough’s claim says the notary on the deed confirmed she never notarized a promissory note or deed of trust in Florida in May 2018, nor met Lisa Marie Presley. The complaint also claims a document listed as a promissory note from Florida includes language that was not used in that state before 2020.

Keough asked the court to issue a temporary restraining order against Naussany Investments and any party connected to it from conducting a sale of Graceland. It also asked for a permanent injunction against the company from taking further actions, and for the court to declare the documents as fraudulent.

Elvis Presley Enterprises (EPE) released the following statement after Wednesday’s hearing: “As the court has now made clear, there was no validity to the claims. 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.”

RELATED: Company claims Lisa Marie Presley owed millions and wants to foreclose on Graceland, but her daughter says it’s a fraud 

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