Entity seeking to sell Graceland didn’t file required documents with county
Naussany Investments & Private Lending did not file any required documents with the local deeds office to show it has rights to Graceland, Elvis Presley's Memphis estate.
The company being investigated for attempting to sell Graceland did not file a single required document with the local deeds office to show that it has any rights to Elvis Presley's Memphis estate — but it was still able to proceed with its foreclosure sale plan because of a system that leaves such battles up to the courts to decide, according to county officials and a foreclosure lawyer.
Naussany Investments & Private Lending, a creditor with no internet footprint, claims it gave Lisa Marie Presley, Elvis Presley’s daughter, who died last year, a $3.8 million loan, with a deed of trust on the compound pledged as collateral.
Elvis Presley at Graceland in Memphis, Tennessee, in 1960.Getty Images fileBut there are no records of such a transaction, according to Willie Brooks, the Shelby County register of deeds, and Vincent Clark, an administrator at the Shelby County Register of Deeds Office.
“They have filed nothing in our office, not even for anything other than Graceland. So we’ve never heard of this company before either,” Clark said.
For one, Naussany Investments should have requested a quit claim form, the standard legal document used to transfer real estate ownership, but it did not, Brooks said. The company should have also filed a substitute trustees deed, the first step in foreclosing on a property, which lays out who the company has assigned to manage the foreclosure and provides the company with an identification number, but it did not.
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