Is Graceland Facing Foreclosure or Fraud?

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Good morning, good afternoon and good evening everybody. Hey. Welcome to this episode of the Note Closure Show. And today's episode is about something that's popping up just up today in the news. What am I talking about? Talking about Graceland, Elvis's home, where the King is from is in foreclosure, in pending foreclosure. But see, things seem to look a little fishy and I'll get into that, but there's an article that popped up this morning on USA Today and cnn, stuff like that. And it was actually by Neil Strabig out of USA Today. And here's a link to the full article. Put in the description so you can read the full article. This is Elvis's Graceland faces foreclosure auction. Granddaughter Riley Keogh sues to block the sale. And you see the data that is I guess actually Yesterday is the 21st, but I just saw it today and you can say but the thing is about this is this sounds and looks kind of fishy and what I want to get at. Let me, let me pull up the the full story so we can kind of go through that with you guys because it just doesn't, things just don't seem to be adding up on this. So the article talks about. I'll just read to you. Elvis Presley iconic Grace Lane home maybe put up for public auction. But the rock legend's granddaughter Riley Keough is fighting the sale and has filed a loss of cleaning fraud. If you don't know who Raleigh Keough, she's an actress, the daughter of Lisa Marie of Elvis's daughter. All right, granddaughter of Elvis. And there Was a public notice for the foreclosure sale of the Memphis state was posted earlier this month. The notice alleges that Promenade Trust, which controls Graceland at the address, owes $3.8 million after failing her payload, taken out on May 16, 2018. Now, we want to keep those things in mind. May 16, 2008. All right? And there's a loan. With a loan, guess what gets filed? There's a lien that gets filed, usually against that property. So it clouds title so that they can't go sell the property, go borrow money. Else at this link, it's full. We'll talk about that. Okay. The public auction was scheduled for this Thursday in two days from the day of this release at the Shelby county courthouse in Memphis. But a temporary restraint order has been granted. According to Keo's legal team, the actress, 34, inherited the promenade Trust after her mother, Lisa Marie Presley, who died in January 23at the age of 54. Okay. She, you know, died just over a year ago. Now is the question, is Graceland for sale? No, it's not for sale. And I think. Here's the thing, guys. If you get a chance to go to Graceland, we went there around Christmas time, visited with the family. My mom loved it. She's a big Elvis fan. You cannot help but be an Elvis fan. After going to this and seeing all the amazing artifacts and stuff that goes in there, it's well worth the trip. Okay? You could spend a full day there. Go early, stay late. It's. It's amazing. It's. It's one thing you got to do if you're ever gonna go to Memphis. But the Memphis based law firm Morton German Germany is representing Keo and the prominent trust attorney Jeff Germany confirmed the temporary restraining order is in place, which delays Thursday sale. Now, here's the thing. Tennessee is a non judicial foreclosure state. That means you don't have to go through the full legal proceedings of a foreclosure trial like you would in Florida, New York, which can take a long time. Tennessee is basically. If you're more than 120 days late, then they can file the foreclosure, but they have to publicize the notice like, I think three times in Tennessee. Okay. But anyway, I'll get to that. So the company that supposedly says that they're owed this 3.8 million is this company called Nauseny Investments. Oh, damn.

What?

I just did. Nausea. Investments. There we go. And private lending in Missouri says Graceland was used as collateral that Lisa Marie Presley failed To repay the loan, Keo, on behalf of the Promenade Trust has filed a lawsuit against Nausea Investments. In the lawsuit, Keel claims the company presented fraudulent documents regarding the loan and unpaid sums in September of 2023. Okay. Lisa Marie Presley never borrowed money from the nosty investments and never gave a deed of trust to Nausea Investments, the lawsuit claims.

Okay.

The lawsuit was filed on May 15. An injunction hearing is scheduled for tomorrow between both parties LS Presley Enterprises can confirm that these claims are fraudulent. There is no foreclosure sale. Simply put, the counter lawsuit was filed to stop the fraud. Elvis Presley Enterprises says. Now here's the thing. Let's go through a little bit of here. Who owns Graceland? So Elvis Presley purchased Graceland in 57. The 139 acre property was inherited by Lisa Marie, his only child. Following the King of Rock rolls death in 77. And Keo is inherited the home from her as the granddaughter. Elvis's parents, Lisa and her son Benjamin Keough and other relatives are buried on.

The grounds in the meditation garden.

Beautiful garden. His wife Priscilla Presley plans to be buried near Ellis at Graceland upon her death. Okay, that's the article. You can read more about it.

There's.

But here's the thing. If you look at this. So what we did is we clicked on the public notes and here's the public notice. I'll make sure you guys can see it. Here's a public notice that popped up and you can see by virtue of authority vest in the trustee under the certain deed of trust dated May 16, 2018 executed by Lisa Marie. Now to see securing mortgage Graceland 37 for bubble for $3.8 million on me 6. Now here's the thing. This is a public notice. This is the foreclosure. Talk about how it's been publicized. It's publicized. May 5, May 12, May 19. It didn't show us the actual copy of the deed here. But here's the thing. Any lender, especially a lender like this in Memphis, okay? And being in the note business, you know, what do you do if you're a lender, if you're borrowing money, you slap a lien against the property, right? You go out and you file a lien against the property to secure your investment. There's no lien filed. So if we go up here to Shelby county, all right? I mean, this is the public records websites, natural online. We use it all the time. So you go down to Shelby, register deeds, click on there. That'll take you over here. All right, so here's Nocity Investments, that's the name of the company that's claiming they're able to foreclose. And what we do is just go over. I just select all. It's easier that way. Select all and then hit return to see if anything pops up. There's nothing that pops up. There's no D filed. Okay. No defiled at all. No documents filed against Graceland in this company in Shelby County. Okay, now let's go over. Well, let's do it. Let's do a search for Elvis Presley or Promenade Trust. And I did that. I put Prominent Trust and all you see on here is the transfer documents. The transfer, the quick claim deeds, that kind of stuff. A deed. Remember deed? There's no D filed from Elvis Presley Enterprises or prominent trust to nausea investments. All you have on here, especially nothing in 2018. All right. The latest thing that shows up with promenade trust is 2005, and that's the quick claim where it was granted from basically Promenade Trust to Elvis Presley Enterprises Inc. There. And you see the address out there. So this screams fraud. This destiny screens fraud. There's nothing on the. The county website or anything like that showing this. And that's why the attorneys, I believe they very easily get the kicked out. Now, does that mean they maybe filed it and asked me quiet about it? Maybe. But that still doesn't make sense that, you know, in that case, any type of private lender would have still filed the lean lien against the property. The reason you file a lien is so that they can't go sell the property and not get paid off. You want a cloud title, so it's not free and clear title, so they can't go get another loan and all that other stuff or sell the property out right from underneath you. It's got. You got to be paid off. So that's the biggest thing that screams fraud. There's no lien filed, nothing filed going back to 2018. So hopefully this all gets cleared up in the next couple days. It just seems kind of shady. Now. If they did loan the money, there should be a, you know, transfer of money, wire transfer. That kind of stuff is a paper trail. It's sad like that because in sometimes these judicial counties, you can try to squeeze a foreclosure. I've had people file fraudulent liens against properties that we've owned before where they just go flat a lien after we foreclose on the property, took the property back, hoping that we just pay off that $10,000 lien they filed instead of waiting the 90 days to kick it off and prove that it's a fraudulent lien. So this is going to be interesting. This is what I like about nature online. If you see something, you can jump in there. Most counties allow you to search there. Some of you do. I mean, some will charge you, some will not always give you information. But a lot of the counties you can have to check out stuff for free. So this is an interesting aspect of the foreclosure market. Distressed properties. I don't think Graceland's, you know, disarray as many visitors they get and what they charge. It would seem they're still making a profit, but who knows, who knows what's going on. But this is definitely an interesting article. I just thought I'd dive a little deeper into it and share with you what we found along the way out there. So check out the full article. Pretty easy for you guys to take it out yourself. And I hope you enjoyed this episode of the no Clutchers. Go out, take some action and we'll see the top. Bye.

Sam.