ELVIS Presley’s historic Graceland home is set to be sold at auction after his daughter allegedly failed to pay back a $3.8million loan.
The property is due to be sold to the highest bidder on Thursday – but his granddaughter is trying to halt the court-approved sale.
Elvis Presley’s historic Graceland may be sold at auction this week if appeals by family members are unsuccessfulCredit: Getty
Presley’s granddaughter, Riley Keough, says the foreclosure is ‘fraudulent’Credit: Getty
Presley moved into Graceland with his family in 1957Credit: Getty
Presley’s granddaughter – actress Riley Keough – claims the company behind the foreclosure auction has no right to it, local CBS affiliate WREG reports.
It claims Lisa Marie signed a Deed of Trust to secure the loan – and alleged she never paid the debt back before her death at the age of 54 last year.
But Keough – the sole heir of Graceland – argues the loan is fake and insists it was not executed by her mother.
“These documents are fraudulent,” Keough’s lawsuit, filed May 15 in Shelby County Chancery Court, states.
She claims the signatures on the deed are forged and alleges that Naussany Investments is not a real entity.
In the lawsuit, she claims the lawyer involved in the deed has denied verifying Lisa Marie’s signature or ever meeting her.
A temporary restraining order to halt the sale was granted by the court on Monday and an injunction hearing is set for Wednesday.
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In a statement to NBC News, Elvis Presley Enterprises – the group that runs Graceland and the assets of the Elvis Presley Trust – said the “claims are fraudulent”.
It said: “There is no foreclosure sale. Simply put, the counter lawsuit has been filed is to stop the fraud.”
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Presley moved into Graceland with his family in 1957 during the height of his career.
The megastar bought the 13.8-acre estate for $102,500 – the same year he recorded fan favorite hits Blue Christmas and All Shook Up.
His daughter Lisa Marie is understood to have inherited Graceland after Elvis’ death in 1977.
By 1982, she had helped convert it into a museum and tourist destination.
What is Elvis Presley’s Graceland?
Elvis crafted some of his most famous hits at Graceland, including Blue Christmas and All Shook Up. Here’s everything you need to know.
Graceland is located at 3763 Elvis Presley Blvd in Memphis, Tennessee.
It was constructed in 1939 by Ruth Brown Moore and her husband Thomas D. Moore, who named the property Graceland after Ruth’s aunt Grace who originally owned the land.
Elvis purchased the property in 1957 and immediately moved in with his young family — wife Priscilla and daughter Lisa Marie Presley.
Elvis’ father, Vernon Presley, took over the trust managing Graceland along with the property itself after Elvis died in 1977, per directions in the star’s will.
The family decided to turn Graceland into a museum and tribute to the King of Rock & Roll, which opened in 1982.
Ownership of Graceland transferred to Lisa Marie when she turned 25 in 1993.
Graceland again changed ownership when Lisa Marie died suddenly in 2023.
In a survey last year, the property was named the most popular museum in the United States.
Over 600,000 guests explore the home of the King of Rock & Roll every year, according to the museum’s website.
Lisa Marie was found unresponsive in her California home on January 12, 2023. She was rushed to the hospital where she was pronounced dead hours later.
A later autopsy report found the star died from complications due to a small bowel obstruction.
The report said a small amount of Oxycodone, an opioid, was found in her system, which was attributed to a prescription she had following cosmetic surgery some months previous.
She also had therapeutic levels of anti-anxiety drug, Buprenorphine, and traces of Quetiapine, an antipsychotic.
Her urine toxicology was otherwise negative and no drug paraphernalia or narcotics were found at her home, the coroner report said.
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Lisa Marie was buried at Graceland next to her son, Benjamin Keough, who died at the age of 27 by suicide in 2020.
Both are buried in the property’s Meditation Garden.
A company named Naussany Investments claims Lisa Marie Presley used the property as collateral for a $3.8million loan she failed to pay back before her deathCredit: Alamy
Graceland opened to the public in 1982, five years after his deathCredit: Alamy
Lisa Marie Presley died due to a small bowel obstruction in January 2023Credit: Alamy
Lisa Marie was Elvis’ only child and heir to GracelandCredit: Getty
Keough is the sole heir of GracelandCredit: Getty
