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Elvis Presley’s iconic Graceland will be sold at auction amid foreclosure, and his granddaughter Riley Keough is ‘shocked’

Elvis Presley’s iconic Graceland will be sold at auction amid foreclosure, and his granddaughter Riley Keough is ‘shocked’

Real estate

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Elvis Presley’s legendary mansion at Graceland is about to be sold at foreclosure auction Thursday, sparking a dramatic legal battle from his granddaughter Riley Keough, who called the upcoming sale “fraudulent.”

A notice from the Shelby County Circuit Court states that Graceland and surrounding property in Memphis, Tennessee will be auctioned off to the highest cash bidder on May 23. WREG TV News mentioned.

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

A judicial hearing is scheduled for Wednesday.

A source told The Post that Keough is “psychologically traumatized” by what happened and “never thought a historic piece of property would be considered in the hands of any random stranger.”

Visitors line up to enter Elvis Presley’s Graceland Mansion on August 12, 2017 in Memphis, Tennessee. AFP via Getty Images
Rock and roll singer Elvis Presley walks the grounds of his Graceland home in 1957. Michael Oakes Archives

The drama stems from a 2018 trust deed that Riley’s late mother, Lisa Marie Presley, allegedly signed, taking out a $3.8 million loan with Graceland as collateral.

The loan was allegedly obtained through Naussany Investments and Private Lending, a Missouri-based company. The company claims that Lisa Marie, who died last year at the age of 54, defaulted on the loan.

But Keough’s lawsuit, filed May 15 in Shelby County Circuit Court, contends that Lisa Marie never borrowed any money from Nosani.

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“These documents are forged,” the lawsuit states, alleging that Lisa Marie’s signatures are forged and that Naussany Investments is not even a legitimate company. Furthermore, the notary listed on the documents denies authenticating Lisa Marie’s signature or ever meeting her.

Lisa Marie is photographed with her three daughters. Rahman, Chad
Lisa Marie Presley’s daughters Riley, Harper, and Finley inherited Graceland after their mother’s death. AP

Elvis purchased the Graceland estate in 1957 for $102,500, the same year he released songs like “Blue Christmas” and “All Shook Up.”

It was inherited by Lisa Marie after Elvis’ death in 1977, and opened to the public as a museum in 1982. After her death in January 2023, Riley became the heiress.

Graceland is not just a home. It’s a shrine to one of the greatest pop culture icons of all time.

The property spans 13.8 acres and attracts hundreds of thousands of visitors annually who come to celebrate Elvis’ legacy. The mansion, built in 1939, was named after Ruth Brown Moore’s aunt, Grace Tove.

Elvis’s gold-appointed living room. Getty Images
Billiards room at Memphis property. Getty Images

Known for its eclectic decor, Graceland’s “Forest Room” is a highlight, filled with lush greenery and unique furniture that Elvis bought to spite his father.

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

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

The dispute arose over a 2016 amendment to Lisa Marie’s will that resulted in Priscilla being removed as conservator. Priscilla’s lawyers claimed that she did not learn of the amendment until after her daughter’s death.

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Dining room at Graceland. Getty Images

Lisa Marie died on January 12, 2023 after suffering cardiac arrest at her residence in Calabasas, California.

An autopsy later revealed that her death was due to “small bowel obstruction” resulting from previous bariatric surgery.

Last year, Priscilla announced her desire to do so She was buried next to her late ex-husband Elvis at his home in Graceland after her death.

Currently, Elvis, his parents Lisa Marie, and her son Benjamin are buried at Graceland.

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