THE HISTORY OF pop music is littered with crazy yarns, and Elvis Presley and his wild life weren’t exempt. But the ongoing saga of the Presley family took an especially strange turn last month, when a mysterious company announced a foreclosure sale of Graceland, the 14-acre home and property in Memphis that Presley bought in 1957. Since his death in 1977, Graceland has become a major tourist attraction, and its ownership was later transferred to Presley’s daughter, Lisa Marie.
However, a business that no one had ever heard of declared it was going to foreclose on the property a few months after her passing in January 2023. Riley Keough, Lisa Marie’s daughter, who currently owns Graceland, filed a lawsuit right away, and a Tennessee judge stopped the dubious transaction. Nevertheless, the entire experience left a lot of burning questions in its aftermath.
Who attempted to sell Graceland, home of Elvis Presley?
A shadowy organization going by the name Naussany Investments & Private Lending LLC declared that it was going to put Graceland up for auction in court documents that Keough’s team submitted in May. According to the corporation, Graceland was used as collateral for a purported $3.8 million loan that Lisa Marie, who passed away, took out from Naussany. The business reportedly signed a document purportedly signed by Lisa Marie Presley and listed her debt in court documents filed in California in September 2023. Naussany allegedly wanted its money back after Presley passed away, and the property was first scheduled to be sold in May.
Who owns Graceland anyway?
Lisa Marie Presley inherited the property when she turned 25 in 1993, and she kept ownership of it and other family assets for a long time until selling an 85% stake in Elvis Presley Enterprises to the same company that owned American Idol in 2005. Later, Joel Weinshanker, who gained notoriety in the collectibles industry as the founder of the National Entertainment Collectibles Association, acquired Graceland.
was appointed EPE’s supervisor, which included managing Graceland (though Lisa Marie remained its owner). Following Lisa Marie’s passing in 2023, Keough took over as Graceland’s supervisor. Priscilla, Lisa Marie’s mother, first contested the ownership claims, but the disagreement was settled out of court. As the sole trustee of Lisa Marie Presley’s estate and the owner of Graceland, Keough was named sub-trustor to the twin sisters Harper and Finley, who are still in their adolescent years and were part of Lisa Marie’s marriage to Michael Lockwood.
