Graceland, the former home and burial place of the legendary Elvis Presley, will be sold at a foreclosure auction this Thursday.
According to a legal notice released this month, Graceland and surrounding land on Elvis Presley Boulevard will be auctioned for cash to the highest bidder on May 23 at the Shelby County Courthouse. WREG-TV News.
Elvis’ granddaughter, actress Riley Keough, 34, who is the current owner of Graceland, is challenging the sale with a lawsuit, claiming it is “fraudulent.”
According to Keough’s attorney, a temporary restraining order on the sale was issued Monday and a hearing on the ban is set for Wednesday.
According to the legal notice, Riley’s mother and Elvis’ only child, the late Lisa Marie Presley, allegedly signed a Deed of Trust in 2018 to secure a $3.8 million loan, with Graceland as collateral.
Graceland, the former home and burial place of the legendary Elvis Presley, will be sold at foreclosure this Thursday; Elvis seen at Graceland around 1957
Elvis’ granddaughter, actress Riley Keough, 34, is challenging the sale with a lawsuit, claiming it is “fraudulent”; Riley seen on April 15, 2024 in Los Angeles
The alleged loan was made through a Missouri company called Naussany Investments and Private Lending.
Now the company claims Lisa Marie failed to repay the money before her death at age 54 last year.
But Riley’s lawsuit, filed May 15 in Shelby County Chancery Court, alleges her mother did not borrow money from the company.
“These documents are fraudulent,” the lawsuit states.
Keough claims her mother’s signatures on the deed are forgeries. The lawsuit also claims that Naussany Investments isn’t even a real company.
The notary listed on the documents has denied notarizing Lisa Marie’s signature or ever meeting her, as evidenced in the documents.
The King of Rock and Roll purchased the Graceland estate in 1957 for $102,500, the same year he recorded a slew of iconic hits, including “Blue Christmas” and “All Shook Up.”
Lisa Marie inherited the estate after her father’s death in 1977. It was later opened to the public as a museum in 1982. When Lisa Marie passed away in January 2023, her daughter became heir to the estate.
The Graceland estate is an iconic symbol of perhaps the greatest pop culture figure of all time.
Located in Memphis, Tennessee, the 13.8-acre estate attracts hundreds of thousands of visitors every year as people remember one of America’s most influential musicians.
According to a legal notice, Graceland and surrounding land on Elvis Presley Boulevard will be auctioned for cash to the highest bidder on May 23, according to WREG-TV News
Elvis’ only child, the late Lisa Marie Presley, is said to have signed a deed of trust in 2018 to secure a $3.8 million loan that she has failed to repay, with 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 any money from the company and that her signatures on the deed are forgeries; (L-R) Lisa, Priscilla Presley and Riley seen in 2022
According to Keough’s attorney, a temporary restraining order on the sale was issued Monday and a hearing on the ban is set 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 crazy, folksy take on Elvis’ lifestyle, including the remarkable ‘Jungle Room’ full of greenery and family heirlooms, which was initially used as a joke by Elvis, who bought a lot of furniture in an attempt to annoy the people. his father.
According to a video on the Graceland website, every piece of furniture in the house is an original piece purchased during Elvis’s time there.
Today, the property at 3763 Elvis Presley Blvd stands as one of America’s most famous musical landmarks, which was 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 wall that contains all the awards he received after his death.
Riley’s settlement over ownership of the Graceland mansion was approved by a judge 10 months after the death of her mother Lisa Marie in January 2023.
She was appointed sole administrator of the family estate after a legal battle with her grandmother Priscilla Presley, 78.
Their disagreement centered around a 2016 amendment to Lisa Marie’s will, which excluded Priscilla as administrator of the estate.
Lawyers for Priscilla said she was only made aware of the amendment after her daughter’s death.
The King of Rock and Roll purchased the Graceland estate in 1957 for $102,500, the same year he recorded a slew of iconic hits including ‘Blue Christmas’ and ‘All Shook Up’; seen in 1956
As the former home and burial place of the legendary Elvis, the Graceland estate is an iconic symbol of perhaps the greatest pop culture figure of all time
The 13.8-acre estate, located in Memphis, Tennessee, draws hundreds of thousands of visitors annually as people remember one of America’s most influential musicians
Fans saw Lisa Marie’s grave and the Graceland meditation pool during her memorial service on January 22, 2023
The amendment removed Barry Siegel, Priscilla and Lisa Marie’s former business manager, and replaced him with Lisa Marie’s children, Riley and Benjamin Keough.
Benjamin died in 2020, aged 27, after shooting himself dead at the family’s mansion, with sources revealing he was going through a tough time 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 discovered that she died of a “small bowel obstruction” caused by bariatric surgery that she had undergone, according to the autopsy.
Last year, Priscilla confirmed that her wish is to be buried next to her late ex-husband Elvis at his Graceland estate after her death.
Elvis, Lisa Marie and her son Benjamin are all buried in Graceland.