Elvis Presley’s Iconic Graceland To Be Auctioned Amid Foreclosure
Will it remain in the family?
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 property owner 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.
The drama stems from a 2018 Deed of Trust that Riley’s late mother, Lisa Maria, allegedly signed securing a $3.8 million load with Graceland as collateral…
The firm, where the load was reportedly taken out claims Lisa Marie, who died last year at 54, defaulted on the loan.
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 died in 1977, and it opened to the public as a museum in 1982. After her death in January 2023, Riley became her 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.
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.
