Elvis Presley’s iconic Graceland to be sold at auction amid foreclosure, granddaughter Riley Keough ‘traumatized’

Real estate

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By Mary K. Jacob

Elvis Presley’s legendary Graceland mansion is set to be sold at auction Thursday — sparking a dramatic legal battle from his granddaughter, Riley Keough, who called the pending sale “fraudulent.”

A notice from the Shelby County Courthouse says Graceland and its surrounding properties in Memphis, Tennessee, will be sold at auction to the highest cash bidder on May 23, WREG-TV News reported.

Keough, 34, current owner of the property and granddaughter of the king of rock’n’roll, fiercely contests the sale. She filed a lawsuit, calling the auction a farce, and on Monday her lawyer obtained a temporary restraining order.

An injunction hearing is scheduled for Wednesday.

A source told the Post that Keough is “traumatized” by what happened and “never thought a historic property could even be considered going into the hands of a random stranger.”

The drama stems from a 2018 trust deed that Riley’s late mother, Lisa Marie Presley, allegedly signed, securing a $3.8 million loan with Graceland as collateral.

The loan was allegedly taken from Naussany Investments and Private Lending, a company based in Missouri. The company says Lisa Marie, who died last year at age 54, defaulted on her loan.

But Keough’s lawsuit, filed May 15 in Shelby County Chancery Court, claims Lisa Marie never borrowed money from Naussany.

“These documents are fraudulent,” the suit states, alleging that Lisa Marie’s signatures were forged and that Naussany Investments is not even a legitimate company. Additionally, the notary listed on the documents denies having notarized Lisa Marie’s signature or ever having met her.

Elvis purchased the Graceland estate in 1957 for $102,500, the same year he released hits like “Blue Christmas” and “All Shook Up.”

Lisa Marie inherited it after Elvis’ death in 1977 and it was opened to the public as a museum in 1982. After his death in January 2023, Riley became the heir.

Graceland is not just a house; it’s a shrine to one of the greatest pop culture icons of all time.

Spanning 13.8 acres, the estate attracts hundreds of thousands of visitors each year to celebrate Elvis’ legacy. The mansion, built in 1939, is named for Ruth Brown Moore’s aunt, Grace Toof.

Known for its eclectic decor, Graceland’s “Jungle Room” is a notable highlight, filled with lush greenery and unique furniture that Elvis bought to irritate his father.

According to the Graceland website, all of the furniture in the house is original from Elvis’s era.

A judge approved Riley’s ownership of Graceland ten months after Lisa Marie’s death, naming her sole trustee of the family estate following a legal battle with her grandmother, Priscilla Presley, 78.

The dispute arose from a 2016 amendment to Lisa Marie’s will that removed Priscilla as trustee. Priscilla’s lawyers said she didn’t learn of the amendment until after her daughter’s death.

Lisa Marie died on January 12, 2023 after suffering cardiac arrest at her residence in Calabasas, California.

An autopsy later revealed that his death was due to “small bowel obstruction” resulting from previous bariatric surgery.

Last year, Priscilla said she wanted to be buried next to her late ex-husband Elvis at his Graceland property after her own death.

Currently, Elvis, Lisa Marie and her son Benjamin are all buried at Graceland.