May 22 (UPI) — Elvis Presley‘s former home and final resting place won’t be auctioned off Thursday after a Tennessee judge blocked the foreclosure sale during an 8-minute hearing in Memphis Wednesday.
Shelby County (Tenn.) Chancery Court Judge JoeDae Jenkins ruled the planned foreclosure auction of the Graceland mansion and property would cause irreparable harm if allowed to proceed based on dubious documents provided by an alleged lender.
An entity named Naussany Investments & Private Lending claims Lisa Marie Presley used Graceland as a collateral to obtain a $3.8 million loan to Promenade Trust in 2018 and had scheduled a foreclosure auction Thursday.
Lisa Marie Presley died in January 2023, and Naussany Investments claims the loan wasn’t paid off. Actress Riley Keough, 34, is Lisa Marie’s daughter, Elvis’ granddaughter and the primary trustee for Promenade Trust.
Keough filed an injunction request that challenged the validity of the loan claims in a filing seeking to block the auction.
Keough said Naussany Investments is not a real entity, the documents alleging the loan was made are fraudulent and her mother’s signatures on the purported loan documents were forged.
Notary Kimberly Philbrick is listed as the notary public on the deed of trust and in a signed affidavit affirmed she never met Lisa Marie Presley and never notarized the loan documents.
Jenkins ruled the affidavit from Philbrick is sufficient evidence to delay the scheduled foreclosure auction pending a hearing to determine facts in the matter.
Graceland is a unique property and loved throughout the nation and world, Jenkins said, adding that evidence shows Naussany Investments likely forged the documents.
An individual named Gregory E. Naussany of Jacksonville, Fla., provided a one-page argument saying the loan was valid and the foreclosure should proceed but did not appear in court and had no legal representatives appear at the hearing.
Jenkins’ ruling enables Naussany Investments representatives to respond to Keough’s claims and appear in court to prove its claims.
A statement by Graceland officials following the hearing said “as the court has now made clear, there was no validity to the claims.”
Naussany Investments doesn’t have a physical address and instead has two P.O boxes listed, local media reported.
One P.O. box is in Hollister, Mo., and the other in Kimberling City, Mo. Another address on court documents suggests an address in Jacksonville, Fla., which is the address for a Post Office branch office with no P.O. box number listed.
“There will be no foreclosure,” the statement continues. “Graceland will continue to operated as it has for the past 42 years, ensuring Elvis fans from around the world can continue to have a best-in-class experience when visiting his iconic home.”
More than 600,000 people annually visit Graceland, which allowed tours starting in 1982.
The estate was built in 1939 and is one of the most popular tourist attractions in Tennessee.
Elvis bought the 10,266-square-foot Graceland mansion in 1957 when he was 22 for $102,500. He later bought adjacent farmland and expanded the mansion to 17,552 square feet.
Elvis died at Graceland in 1977 and is buried on its grounds.
The American National Register of Historic Places added Graceland to its registry in 1991.
