Graceland, the former home and burial site of the legendary Elvis Presley, will be sold at a foreclosure auction this Thursday.
According to a legal notice published this month, Graceland and the surrounding land on Elvis Presley Boulevard will be auctioned for cash to the highest bidder at the Shelby County Courthouse on May 23, according to WREG-TV News.
Elvis’ granddaughter, actress Riley Keough, 34, Graceland’s current owner, is challenging the sale with a lawsuit, alleging it is “fraudulent.”
A temporary restraining order on the sale was issued Monday, according to Keough’s attorney, and an injunction hearing is scheduled for Wednesday.
According to the legal notice, Riley’s mother and Elvis’ only daughter, the late Lisa Marie Presley, allegedly signed a deed of trust in 2018 to secure a $3.8 million loan, using Graceland as collateral.
Graceland, the former home and burial site of the legendary Elvis Presley, will be sold at a foreclosure auction this Thursday; Elvis seen at Graceland around 1957
Elvis’s granddaughter, actress Riley Keough, 34, challenges the sale with a lawsuit, alleging it is “fraudulent”; Riley seen on April 15, 2024 in Los Angeles
The alleged loan was obtained through a Missouri company called Naussany Investments and Private Lending.
Now, the company claims Lisa Marie failed to return the money before her death at age 54 last year.
But Riley’s lawsuit, filed May 15 in Shelby County Chancery Court, claims her mother did not borrow money from the company.
“These documents are fraudulent,” the lawsuit states.
Keough alleges that his mother’s signatures on the deed are forgeries. The lawsuit also claims that Naussany Investments is not even a real company.
The notary listed on the documents has denied having notarized Lisa Marie’s signature or ever knowing her, according to the documents.
The King of Rock and Roll purchased the Graceland property in 1957 for $102,500, the same year he recorded a string of iconic hits, including ‘Blue Christmas’ and ‘All Shook Up.’
Lisa Marie inherited the property after her father’s death in 1977. It was later opened to the public as a museum in 1982. When Lisa Marie died in January 2023, her daughter became heir to the property.
The Graceland estate is an iconic symbol of arguably the greatest pop culture figure of all time.
Located in Memphis, Tennessee, the 13.8-acre property attracts hundreds of thousands of visitors each year as people remember one of America’s most impactful musicians.
According to a legal notice, Graceland and the surrounding land on Elvis Presley Boulevard will be auctioned for cash to the highest bidder on May 23, according to WREG-TV News.
Elvis’s only daughter, the late Lisa Marie Presley, reportedly signed a deed of trust in 2018 to secure a $3.8 million loan that she did not repay, using Graceland as collateral; Lisa Marie seen on January 10, 2023, two days before her death
Riley’s lawsuit claims that her mother did not borrow money from the company and that her signatures on the deed are forgeries; (LR) Lisa, Priscilla Presley and Riley seen in 2022
A temporary restraining order on the sale was issued Monday, according to Keough’s attorney, and an injunction hearing is scheduled for Wednesday.
The property was built in 1939 by Ruth Brown Moore and her husband, Dr. Thomas D. Moore, who named the property ‘Graceland’ after Ruth’s aunt Grace Toof, the original owner of the land.
Graceland is known as a quirky, folksy look at Elvis’ lifestyle, including the notable ‘Jungle Room’ filled with greenery and family heirlooms, which was initially used as a prank by Elvis, who bought a lot of furniture in an attempt to spite him. his father
According to a video on Graceland’s website, every piece of furniture in the house is an original piece of furniture that was purchased during Elvis’ stay there.
Today, the property at 3763 Elvis Presley Blvd stands as one of America’s most famous musical landmarks, recognized in 1991 when it was added to the American National Register of Historic Places.
It features a museum that houses some of the most notable artifacts from his career, including a 40-foot-high wall containing each and every award he received after his death.
Riley’s deal over ownership of the Graceland mansion was approved by a judge ten months after the death of his mother Lisa Marie in January 2023.
She was named sole administrator of the family estate after a legal battle with her 78-year-old grandmother Priscilla Presley.
Their disagreement centered on a 2016 amendment to Lisa Marie’s will that removed Priscilla as a trustee of the estate.
Priscilla’s lawyers said she only learned of the amendment after her daughter’s death.
The King of Rock and Roll purchased the Graceland property in 1957 for $102,500, the same year he recorded a string of iconic hits, including ‘Blue Christmas’ and ‘All Shook Up’; seen in 1956
As the former home and burial site of the legendary Elvis, the Graceland estate is an iconic symbol of arguably the greatest pop culture figure of all time.
Located in Memphis, Tennessee, the 13.8-acre property attracts hundreds of thousands of visitors each year as people remember one of America’s most impactful musicians.
Fans are seen visiting Lisa Marie’s grave and Graceland meditation pool during her funeral on January 22, 2023.
The amendment removed Priscilla and Lisa Marie’s former business manager, Barry Siegel, and replaced them with Lisa Marie’s children, Riley and Benjamin Keough.
Benjamin died in 2020, aged 27, after shooting himself by suicide in the family mansion, and sources revealed that he had been struggling at the time.
Lisa Marie died in January 2023, at the age of 54, after suffering cardiac arrest at her home in Calabasas, California.
It was later learned that he died from a “small intestine obstruction” caused by bariatric surgery he had undergone, according to the autopsy.
Last year, Priscilla confirmed that she wishes to be buried next to her late ex-husband Elvis at their Graceland estate when she dies.
Elvis, Lisa Marie and their son Benjamin are buried at Graceland.
