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Judge Issues Major Ruling On Elvis Presley’s Graceland Sale

Source YouTube: Akshat Luthra, Fox 5 New York

The family of the legendary Elvis Presley got some good news on Wednesday when a Tennessee judge blocked a foreclosure sale of Graceland.

Judge Issues Graceland Ruling

NBC News reported that the Shelby County Chancery Court judge ruled that it’s in the best interest of the public to slow any potential change of ownership of Elvis’ “well loved” Memphis estate. The judge said that Elvis’ 34 year-old granddaughter Riley Keough will likely come out victorious in her quest to save Graceland from foreclosure.

“It appears that you Mr. Germany, your client will be successful on the merits … providing that you prove the fraud that has been alleged,” Chancellor JoeDae L. Jenkins told Riley’s lawyer Jeff Germany.

Naussany Investments and Private Lending LLC is alleging that Riley’s late mother Lisa Marie Presley, who died last year, used Graceland as collateral on a $3.8 million loan. They are also claiming that Lisa Marie never paid back the money before her death last year.

Find out more about this in the video below.

Riley Fires Back

Riley, however, is claiming that Naussany used forged signatures to create a loan that never existed.

“Lisa Maria Presley never borrowed money from Naussany Investments and never gave a deed of trust to Naussany Investments,” her lawyer said in a statement, according to The Associated Press.

Kimberly Philbrick is the notary whose name is listed on Nassauny’s documents. She has backed up Riley’s story by saying that she never even met Lisa Marie. Despite this, Naussany head Gregory Naussany is standing by the company’s story.

“I respectfully deny the allegations made by Danielle Riley Keough,” he told the court. “Naussany Investments & Private Lending is prepared to provide evidence and arguments to demonstrate the relief sought is not justified in this case.”

Jenkins fired back by pointing out that Naussany will still have a chance to prove their case.

“Mr. Naussany will not (be) harmed … by delaying the trial on this matter until we can have adequate discovery (and) allow them to file an answer and provide a defense to the claim that he’s made,” Jenkins said.

Graceland’s History

Elvis bought Graceland back in 1957 for $102,500. His only child Lisa Marie inherited it when he died in 1977 at the age of 42. When Lisa Marie died in January of 2023, Riley became the heir of the estate.

Located on 13.8 acres, Graceland has become a mecca for Elvis fans. It opened as a museum and tourist attraction in 1982, and hundreds of thousands of tourists flock there every year. All of the furniture inside it are originals from when Elvis lived there. Elvis is also buried there, as are his parents and daughter.

Take a tour of Graceland in the video below.

A source close to Riley told The New York Post that the actress is “traumatized” by this entire situation. The insider added that Riley “never thought that a historic piece of property could even be considered to go into the hands of any random stranger.”

Riley has to be overjoyed by the judge’s ruling. Here’s hoping that he’s right in predicting that she’ll prevail in saving Graceland!

James Conrad

James Conrad’s passion for politics is only overshadowed by his longstanding interest in Hollywood. His unique perspective as a gay conservative fuels him to challenge celebrity views and those who think they have a right to tell anyone how to think or vote. James proudly wields his minority point of view to combat identity politics and cut through his typecast. Fun fact: James’ guilty pleasure is the British royal family.