Riley Keough, the granddaughter of Elvis Presley, is involved in a legal battle to prevent the sale of Graceland at a foreclosure auction. The iconic mansion, located in Memphis, Tennessee, is set to be auctioned off on May 23 to the highest cash bidder. Keough, who is the current owner of the property, has filed a lawsuit claiming that the auction is fraudulent. She obtained a temporary restraining order to halt the sale and is preparing for an injunction hearing on Wednesday.
The controversy surrounding the potential sale of Graceland stems from a 2018 Deed of Trust that was allegedly signed by Riley’s late mother, Lisa Marie Presley. The deed secured a $3.8 million loan with Graceland as collateral, taken out through Naussany Investments and Private Lending. The firm claims that Lisa Marie defaulted on the loan, leading to the impending foreclosure auction. However, Keough’s lawsuit argues that the documents are fraudulent, alleging that Lisa Marie never borrowed money from Naussany and that the signatures were forged.
Elvis Presley purchased the Graceland estate in 1957 for $102,500 and it became a beloved landmark after his death in 1977. Lisa Marie inherited the property, opening it to the public as a museum in 1982. Following her passing in 2023, Riley Keough became the heir to Graceland. The estate, which spans 13.8 acres, welcomes hundreds of thousands of visitors each year who come to pay tribute to the legendary musician. The mansion, known for its unique décor, features original furniture from Elvis’s time, including the famous “Jungle Room.”
Riley Keough’s ownership of Graceland was approved by a judge following Lisa Marie’s death, making her the sole trustee of the family estate after a legal battle with her grandmother, Priscilla Presley. The dispute arose from a 2016 amendment to Lisa Marie’s will that removed Priscilla as trustee. While Riley now acts as the trustee of Graceland, the legal battles over the property continue with the pending foreclosure auction. The estate is not just a house but a symbol of Elvis’s legacy and pop culture icon status.
Lisa Marie Presley passed away in January 2023 due to complications following cardiac arrest at her residence in California. An autopsy revealed that her death was caused by a small bowel obstruction resulting from a previous bariatric surgery. Priscilla Presley, Lisa Marie’s mother and Elvis’s ex-wife, expressed her desire to be buried next to Elvis at Graceland upon her own death. Currently, Elvis, Lisa Marie, and her son Benjamin are all interred at the iconic estate, adding to its significance in preserving the memory of the King of Rock ‘n’ Roll. Keough’s legal battle to prevent the sale of Graceland highlights the ongoing challenges and controversies surrounding the preservation of this historic property.
