Tennessee Attorney General Steps In to Stop Graceland Foreclosure

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Tennessee Attorney General Jonathan Skrmetti announced Thursday that he is investigating the unsuccessful foreclosure attempt on Elvis Presley‘s former residence.

The Graceland mansion in Memphis was on the verge of foreclosure by Naussany Investments and Private Lending until a judge intervened on Wednesday. The company alleged that Lisa Marie Presley, Elvis’s sole offspring who passed away last year, used the property as collateral for a $3.8 million loan. However, her daughter Riley Keough asserts that the loan is fraudulent and that her mother never borrowed the money.

FILE – Fans wait in line outside Graceland Tuesday, Aug. 15, 2017, in Memphis, Tennessee. (AP Photo/Brandon Dill, File)

“My office has fought fraud against homeowners for decades, and there is no home in Tennessee more beloved than Graceland,” Skrmetti said in a statement. “I have asked my lawyers to look into this matter, determine the full extent of any misconduct that may have occurred, and identify what we can do to protect both Elvis Presley’s heirs and anyone else who may be similarly threatened.”

Skrmetti expressed gratitude to the Presley family for “generously sharing” the property, which has become “one of the most iconic landmarks in the State of Tennessee” since June 7, 1982. As a significant tourist attraction, it serves as a “monument to [Elvis’s] legacy and a fond remembrance for his family,” drawing visitors annually. The only other residence that attracts more tourists is the White House in Washington, D.C.

The disputed deed originates from a 2018 signature by Lisa Marie Presley, which was reportedly not notarized. According to the Shelby County Register of Deeds, there is no recorded deed concerning Graceland.

Keough has secured a stay of the sale while her lawsuit against Naussany Investments and Private Lending is ongoing, in which she is accusing the company of fraud.

Jenny Goldsberry
Jenny Goldsberry
Jenny Goldsberry covers social media and trending news. She’s a 2020 Brigham Young University graduate with a major in communications and minor in Japanese. She was born in Utah and has previous newsroom experience at the Salt Lake Tribune and Utah’s NPR station.

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