Graceland's ownership remains with the family.
A questionable corporation claims to be the true owner of Graceland, Elvis Presley's renowned residence. Now, Riley Keough, Elvis' granddaughter, is taking legal action against this, and it's paying off.
Latest updates in the Graceland saga: After Riley Keough's successful lawsuit, Graceland, Elvis Presley's legendary estate that was about to undergo foreclosure, has been saved from foreclosure. On Wednesday, during a court hearing in Tennessee's Shelby County District Court, it was found that cancelling the foreclosure sale of Graceland taking place that day, Thursday, would cause "irreparable harm" to the 34-year-old. Consequently, the auction has been canceled. The court will hold another session to determine the legitimate owner of the property.
Deception is supposedly the driving force behind the intended forced sale. Last May, Keough sued claiming that Naussany Investments & Private Lending LLC, a supposedly nonexistent firm, filed papers in the previous year hinting that Lisa Marie Presley, Keough's mother, who passed away in 2023, borrowed $3.8 million from the organization and listed Graceland as loan collateral. "These documents are forged," the lawsuit asserts. "Lisa Marie Presley never borrowed money from Naussany Investments and never granted a deed of trust to Naussany Investments."
"Great time" preserved for Elvis aficionados
BBC News also confirmed that there is now an injunction against the planned auction. In a statement, Graceland and Elvis Presley Enterprises told the BBC: "The court has made it clear that the claims were groundless. There will be no foreclosure." Graceland, which runs as a tourist site accessible to the general public, will carry on its operations as it has for the past 42 years, ensuring that Elvis enthusiasts from all over the world may continue to experience the iconic home in a pleasing manner.
Reuters reported that Naussany Investments & Private Lending confirmed its withdrawal of all claims to Graceland after the court hearing on Wednesday.
Keough received Graceland and a considerable portion of Presley's estate after her mother Lisa Marie Presley's demise in the prior year.
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Graceland, the inheritance left by Elvis Presley, will continue to serve as an entertainment hub for his fans, maintaining its operations as a tourist site. Riley Keough's successful legal processes against the questionable corporation have prevented the foreclosure of Graceland, preserving the heritage and "great time" for future Elvis Presley enthusiasts.
Source: www.ntv.de
