ELVIS Presley’s historic Graceland home looks set to be sold at auction after his daughter allegedly failed to repay a $3.8 million loan.
The granddaughter of the late King of Rock and Roll is frantically trying to stop the court approved sale.
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What is Gracelândia?
Graceland is a mansion on a 13.8-acre estate that was once the home of music icon Elvis Presley.
The megastar purchased the 13.8-acre property for $102,500 – the same year he recorded fan-favorite hits Blue Christmas and All Shook Up.
It is located at 3763 Elvis Presley Blvd in Memphis, Tennessee.
It was built in 1939 by Ruth Brown Moore and her husband Thomas D. Moore, who named the property Graceland in honor of Ruth’s aunt Grace, who originally owned the land.
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Elvis purchased the property in 1957 and immediately moved in with his young family – wife Priscilla and daughter Lisa Marie Presley.
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Who owns Elvis Presley’s Graceland estate?
Elvis’ father, Vernon Presleytook over the trust that managed Graceland along with the estate itself after his father died in 1977/
The family decided to transform Graceland into a museum and tribute to the King of Rock & Roll, opened in 1982.
Ownership of Graceland was transferred to Lisa Marie when she turned 25 in 1993.
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Graceland changed ownership again when Lisa Marie died suddenly in 2023.
Elvis’ granddaughter, Riley Keough, held a procession through the estate following her mother’s death.
Is Elvis Presley’s Graceland estate up for auction?
Graceland is expected to be sold to the highest bidder on May 23, 2024.
Naussany Investments and Private Lending claims that Elvis’ daughter, Lisa Marie Presley, took out a $3.8 million loan in 2018 and used Graceland as collateral.
It alleges that she signed a Deed of Trust to guarantee the loan – and claimed that she never paid the debt before her death, aged 54, in 2023.
The family… doesn’t stay here at Graceland, but they come here and visit us.
Elvis Expert – Angie Marchese
Presley’s granddaughter – actress Riley Keough – claims the company behind the foreclosure auction has no right to it, local CBS affiliate WREG reports.
Keough – the sole heir to Graceland – has claimed the loan is fake and insists it was not foreclosed on by his mother.
“These documents are fraudulent,” states Keough’s lawsuit, filed May 15 in Shelby County Chancery Court.
She claims that the signatures on the deed are fake and claims that Naussany Investments is not a real entity.
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In the lawsuit, Keough claims that the lawyer involved in the lawsuit denied having verified Lisa Marie’s signature or having ever met her.
A temporary restraining order to suspend the sale was granted by the court on May 20, 2024, and a preliminary injunction hearing is scheduled for May 22, 2024.
Does anyone from the Elvis family live at Graceland?
Archivist Angie Marchese gave details about what the family does when they are at the mansion.
The expert said: “The family… doesn’t stay here at Graceland, but they come here and visit us.
“They don’t use Elvis and Priscilla china, we have new china that we bought for Lisa to use when she’s here.
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How long did Elvis live at Graceland before he died?
Elvis lived at Graceland for over 20 years.
On August 16, 1977, the icon’s body was found in his bathroom.
He died of a heart attack and was 42 years old.
The property was then opened to the public in 1982.
However, the second floor was sealed off out of respect for the family – and also to avoid any attention to the place of his death.
How much does it cost to stay overnight at Graceland?
Graceland is not open to overnight reservations from the public.
In 1982, the property was converted into a museum and tourist destination.
In a 2023 survey, the property was voted the most popular museum in the United States.
More than 600,000 visitors explore the King of Rock & Roll’s home every year, according to the museum’s website.
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How to visit Graceland
Tourists can visit and pay homage to the King at Graceland year-round.
An adult ticket will cost $82.
“Experience 120 acres dedicated to the life and career of an American legend, Elvis Presley, the King of Rock ‘n’ Roll,” the website says.
“See his mansion, gold records, bejeweled jumpsuits, classic cars and interactive exhibits that let you experience Elvis like never before.
“Then stay at Graceland’s AAA Four-Diamond resort hotel, The Guest House at Graceland.”
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This story originally appeared on The-sun.com read the full story
