Elvis Presley’s Granddaughter Fights Foreclosure Auction of Iconic Graceland Mansion
Spanning 13.8 acres, Graceland is more than just a house; it is a monument to one of pop culture’s greatest icons.
Graceland, the iconic mansion once owned by Elvis Presley, is at risk of being sold at a foreclosure auction on Thursday.
The potential sale has ignited a legal battle led by Presley’s granddaughter, Riley Keough, who has labeled the impending transaction as “fraudulent.”
According to a notice from the Shelby County Courthouse, Graceland and its surrounding property in Memphis, Tennessee, are set to be auctioned off to the highest bidder for cash on May 23, according to WREG-TV News.
Ms. Keough, 34, the current owner of Graceland and granddaughter of the legendary King of Rock ‘n’ Roll, is actively contesting the auction. She has filed a lawsuit claiming the auction is illegitimate. On Monday, her attorney secured a temporary restraining order to halt the sale.
A hearing for an injunction is scheduled for Wednesday.
The controversy revolves around a 2018 deed of trust that Ms. Keough’s late mother, Lisa Marie Presley, reportedly signed, securing a $3.8 million loan with Graceland as collateral.
The loan was allegedly taken out through Naussany Investments and Private Lending, a company based in Missouri. The firm claims Mr. Presley’s daughter Lisa Marie Presley, who passed away last year at the age of 54, defaulted on the loan.
However, Ms. Keough’s lawsuit, filed on May 15 in Shelby County Chancery Court, asserts that Ms. Presley never borrowed money from Naussany Investments. The suit declares that Ms. Presley’s signatures were forged and that Naussany Investments isn’t a legitimate company.
Elvis Presley purchased the Graceland estate in 1957 for $102,500, the same year he released hits like “Blue Christmas” and “All Shook Up.” After his death in 1977, his daughter inherited the property, which opened to the public as a museum in 1982. Following her death in January 2023, Ms. Keough became the heir to Graceland.
Spanning 13.8 acres, Graceland is more than just a house; it is a monument to one of pop culture’s greatest icons, drawing hundreds of thousands of visitors annually who come to honor the singer’s legacy.
