The courts have made a temporary decision in the case of Graceland. A Shelby County judge halted the foreclosure sale of the estate after having a hearing on Wednesday. It was originally set for foreclosure auction on Thursday.
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A Shelby County judge issued an injunction preventing this sale from proceeding. "The court will enjoin the sale as requested because, one, the real estate is considered unique under Tennessee law. And in being unique, the loss of the real estate would be considered irreparable harm," Chancellor Joe Dae Jenkins said.
Jenkins was concerned about several red flags in the case. For one, the notary for the Deed of Trust denied in a sworn affidavit having met Lisa Marie Presley. They also denied getting her signature for the document. That Deed of Trust would have gave Naussany Investments & Private Lending LLC ownership of the property. The leading company claimed that Lisa Marie put the property up as collateral on a $3.8 million loan, which she didn't pay back.
Now, the judge says that the lender needs more evidence. The judge also wants more evidence of who owns Graceland, pointing out any premature verdict would be devastating. "The estate is considered unique under Tennessee law, and in being unique the loss of the real estate will be considered irreparable harm," Jenkins ruled.
Graceland Sale Halted
The judge didn't throw out the trial but delayed it. She's giving Naussany Investments & Private Lending LLC time to provide a defense to claims of fraud. The Presley family also claims that Naussany Investments & Private Lending LLC forged Lisa Marie's signatures on the Deed of Trust.
Her daughter Riley Keough said, "The note and deed of trust are fraudulent and unenforceable."
