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Elvis Presley's granddaughter fights company's attempt to sell Graceland estate

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The granddaughter of Elvis Presley is fighting plans to publicly auction his Graceland estate in Memphis after a company attempted to sell the property based on claims that a loan using it as collateral was not repaid

FILE - Fans wait in line outside Graceland Tuesday, Aug. 15, 2017, in Memphis, Tenn. 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 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.

“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.”An injunction hearing is scheduled for Wednesday in Shelby County Chancery Court.

 

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