A judge in Tennessee blocked it on Wednesday Graceland Auctionthe former home of Elvis Presley, was seized by a company that claimed his property failed to repay a loan that used the property as collateral.
Shelby County Counsel Joe Day Jenkins issued a temporary injunction against the proposed auction that was scheduled for Thursday of this week.
“The court will order the sale as required, because the property is considered unique under Tennessee law, and because it is unique, the loss of the property is considered irreparable damage,” Jenkins said, according to what was reported by the British newspaper “Daily Mail”. CBS affiliate WREG-TV.
Jenkins’ order essentially maintains an earlier ruling he issued after Presley’s granddaughter, Riley Keough, filed a lawsuit to fight what she said was a fraudulent scheme.
“As the court has now made clear, there was no merit to these claims. There will be no foreclosure. Graceland will continue to operate as it has for the past 42 years, ensuring that Elvis fans from around the world can continue to have Elvis Presley Enterprises Inc. on Wednesday: “It’s a best-in-class experience when you visit his famous home.”
A public notice for the foreclosure sale of the 13-acre property in Memphis posted earlier in May said Promenade Trust, which controls the Graceland Museum, owed $3.8 million after failing to repay a loan in 2018. Que, An actress, she inherited the trust and ownership of the house after her mother died. Lisa Marie Presleylast year.
Naussany Investments and Private Lending said Lisa Marie Presley used Graceland as collateral for the loan, according to the foreclosure sale notice. Keogh, on behalf of Promenade Trust, alleged in its lawsuit that Nosani submitted false documents regarding the loan in September 2023.
Neither Keogh nor Naussany Investments’ lawyers were in court on Wednesday.
Keough, who starred in last year’s hit show “Daisy Jones and the Six,” is the heir to the estate.
In a lawsuit, Keough claims Naussany Investments “appears to be a sham entity created for the purpose” of defrauding her family. The suit also says Keogh’s mother “never borrowed money” from the company, or gave them a deed of trust for Graceland, and further claims that documents claiming otherwise are “falsified.”
Bought Facebook Graceland In 1957, at the age of 22, for $102,500. At the time he bought it, it was castle It was 10,266 square feet, and Elvis also purchased 13.8 acres of the farm surrounding the house. The mansion has since been expanded to 17,552 square feet.
Graceland, where Elvis died in 1977, was listed on the US National Register of Historic Places in 1991. More than 600,000 people visit Graceland – named after Grace, the aunt of one of the original owners – each year.