Tennessee Attorney General Jonathan Skrmetti announced today that his office is investigating a private investment company's attempt to foreclose on Graceland, the historic Memphis home of Elvis Presley. Nausanny Investments and Private Lending, LLC initiated foreclosure proceedings, claiming that the heirs of Elvis Presley defaulted on loans owed to the lender. Presley's granddaughter successfully obtained a stay of the sale, citing allegations of fraud against the company.
"Graceland is one of the most iconic landmarks in the State of Tennessee, and the Presley family have generously shared it with the world since Elvis’s passing," said Skrmetti. "Elvis made Memphis the center of the music universe, and Graceland stands as a monument to his legacy and a fond remembrance for his family. My office has fought fraud against homeowners for decades, and there is no home in Tennessee more beloved than Graceland. 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."
Graceland opened to the public on June 7, 1982. Nearly one million visitors annually visit this site, making it one of America's most visited homes; only the White House attracts more tourists. Ownership of Graceland was confirmed by a court in Memphis on May 22, 2024, affirming it belongs to Elvis Presley's granddaughter.