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Title: Elvis’ Granddaughter Says Upcoming Graceland Foreclosure Sale Is ‘Fraudulent’
Source: [None]
URL Source: https://www.yourdestinationnow.com/ ... anddaughter-says-upcoming.html
Published: May 21, 2024
Author: Staff
Post Date: 2024-05-21 13:26:14 by Horse
Keywords: None
Views: 23

Elvis Presley’s granddaughter Riley Keough is taking action against the impending foreclosure sale of the King’s legendary Graceland estate.

The 34-year-old actress filed a lawsuit against Naussany Investments & Private Lending LLC in an attempt to block them from selling the property in what she’s calling a “fraudulent” move. Keough is the heir to Graceland and trustee of the Promenade Trust, per People.

According to the 60-page lawsuit filed on May 20, Naussany Investments is claiming that Keough’s late mother, Lisa Marie Presley, borrowed $3.8 million and gave them a deed using the Graceland property as security for the loan prior to her death in 2023.

Keough argues in court docs that “the note and deed of trust are fraudulent and unenforceable.”

“The purported note and deed of trust are products of fraud and those individuals who were involved in the creation of such documents are believed to be guilty of the crime of forgery,” Keough states in court docs, the outlet noted.

“On information and belief, Naussany Investments & Private Lending LLC 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 trust of Keough and formerly of Lisa Marie Presley), the heirs of Lisa Marie Presley, or any purchaser of Graceland at a non-judicial sale,” the lawsuit alleges.

Keough’s attorneys claim that Lisa Marie’s signature was forged and that she never met the notary who allegedly witnessed her signing the deed.

Keough’s grandmother, Elvis’ ex-wife Priscilla Presley, also weighed in on the situation. She shared a short video clip of Graceland on her Instagram along with a text overlay saying, “It’s a scam!”

Elvis purchased the 14-acre Memphis property in the spring of 1957 when he was 22, paying just over $100,000 for the mansion and grounds. The rock and roll legend spent the following years renovating and expanding the property and lived there until his death in 1977.

It was opened to the public as a museum in 1982 and attracts more than 650,000 visitors annually. Elvis and other family members, including Lisa Marie, are buried on the house’s grounds.

This is not the first financial dispute in the Presley family. In 2023, Keough agreed to pay Priscilla $1.4 million in exchange for control of the family trust, as The Daily Wire previously reported. Prior to the settlement, which they reached privately without litigation, there were rumors of a family feud over the money.

“As a family, we are pleased that we resolved this together,” Priscilla said in a statement at the time while confirming she never formally sued her granddaughter.

Lisa Marie had at one point retained full control of Elvis’ estate, which today is estimated to be worth around $1 billion. She sold 85% of her stake in the company in 2005 for $100 million, per Inside Edition. That share is now worth about $850 million.

Keough was passed control of the 15% stake the family retained and full ownership of the Graceland property upon Lisa Marie’s death last year.


Poster Comment:

$100,000 for a mansion and 14 acres in 1957.

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