Could You Be the Next Owner of Elvis’ Graceland? Not If a Notary Has Anything to Say About It!
Recently, Elvis Presley’s iconic home in Memphis, Tennessee, a popular tourist attraction known as Graceland, was set for public auction in conjunction with a foreclosure sale. The foreclosure arose from a defaulted loan which was secured by Graceland. Under Tennessee law, security interests in real estate are granted by an instrument known as a deed of trust. The Lender in this case held a Promissory Note and a Deed of Trust purportedly signed by Lisa Marie Presley, Elvis’ daughter, in 2018. The Lender claimed that the Promissory Note was not paid prior to Lisa Marie Presley’s death in 2023, and the default under the Note gave the Lender the right to sell the famous property.
Just a few days before the Graceland sale was set to occur, Elvis’ granddaughter, actress Riley Keough, filed a motion asking the court to halt the foreclosure sale on the grounds that that the Lender’s Note and Deed of Trust were fraudulent. The motion claims that no loan was ever made by the Lender and that Presley’s signatures on the Note and Deed of Trust were forgeries. The key piece of evidence offered by Elvis’ granddaughter was an affidavit from the Notary Public whose name and signature were shown on both the Note and the Deed of Trust as having witnessed Lisa Marie Presley’s signature. The Notary stated in her affidavit that she did not notarize the Note or Deed of Trust and never met Lisa Marie Presley. The motion went on to point out that the form of notary acknowledgment that was used in the 2018 documents was a form that was not in use prior to 2020, and therefore, was another indication of fraud. Based on the strength of the Notary’s affidavit, a judge in Tennessee agreed to halt the sale of Graceland the day before the auction was scheduled.
This case highlights the importance of Notaries in the loan process. The purpose of the Notary Public is to guard against fraudulent signatures on documents. For this reason, Notaries should take their duties very seriously. Likewise, those using the services of a Notary should support the Notary’s efforts in making sure that signatures are correctly obtained, regardless of whether the Notary is an employee of the Lender or an independent witness. While the Notary in the Graceland case may halt your dream of owning the home of the King of Rock-n-Roll, she may have saved the day for millions of Elvis fans around the world.