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

Real Estate

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By Mary K. Jacob

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

A notice from Shelby County Courthouse states that Graceland and its surrounding property in Memphis, Tennessee will be auctioned off to the highest bidder for cash on May 23, WREG-TV News reported.

Keough, 34, the current owner of the property and granddaughter of the King of Rock ‘n’ Roll, is fiercely contesting the sale. She filed a lawsuit calling the auction a sham, and on Monday, her attorney secured a temporary restraining order.

An injunction hearing is set for Wednesday.

A source told The Post that Keough is “traumatized” at what has unfolded and “never thought that a historic piece of property could even be considered to go into the hands of any random stranger.”

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

The loan was purportedly taken out through Naussany Investments and Private Lending, a Missouri-based company. The firm claims Lisa Marie, who died last year at 54, defaulted on the loan.

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

“These documents are fraudulent,” the suit declares, alleging Lisa Marie’s signatures were forged and that Naussany Investments isn’t even a legitimate company. Furthermore, the notary listed on the documents denies notarizing Lisa Marie’s signature or ever meeting her.

Elvis bought 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’s death in 1977, and it opened to the public as a museum in 1982. After her 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 ever.

Spanning 13.8 acres, the estate draws hundreds of thousands of visitors annually who come to celebrate the legacy of Elvis. The mansion, built in 1939, was named after Ruth Brown Moore’s aunt, Grace Toof.

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

According to the Graceland website, all the furniture in the home is original from Elvis’s time.

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

The dispute arose over a 2016 amendment to Lisa Marie’s will that removed Priscilla as trustee. Priscilla’s attorneys claimed she only learned of the amendment after her daughter’s passing.

Lisa Marie passed away on January 12, 2023 after experiencing cardiac arrest at her residence in Calabasas, California.

An autopsy later revealed that her death was due to a ‘small bowel obstruction’ resulting from a previous bariatric surgery.

Last year, Priscilla stated her wish to be buried next to her late ex-husband Elvis at his Graceland estate upon her own death.

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