Memphis, Tennessee – Elvis Presley’s iconic Graceland mansion is facing a foreclosure auction, igniting a legal battle as his granddaughter, Riley Keough, fights to prevent the sale she deems fraudulent. Keough, the current owner of the property and granddaughter of the King of Rock ‘n’ Roll, has taken legal action to contest the auction, arguing that it is illegitimate.
The notice from the Shelby County Courthouse has set the auction date for May 23, with Graceland and its surrounding property in Memphis up for sale to the highest cash bidder. Keough has filed a lawsuit claiming that the auction is a sham, leading to a temporary restraining order secured by her attorney, with an injunction hearing scheduled for Wednesday.
The dispute traces back to a 2018 Deed of Trust signed by Keough’s late mother, Lisa Marie Presley, pledging Graceland as collateral for a $3.8 million loan. Keough’s lawsuit alleges that Lisa Marie never borrowed money from the company involved, Naussany Investments, and asserts that the signatures on the loan documents were forged.
Graceland, purchased by Elvis in 1957 for $102,500, has since become a pilgrimage site for fans celebrating the legendary singer’s legacy. The estate, spanning 13.8 acres and featuring the famous Jungle Room, serves as both a historic landmark and a museum offering a glimpse into Elvis’s life and career.
After Lisa Marie’s passing in 2023, ownership of Graceland transferred to Keough, who now finds herself embroiled in a legal battle to protect her family’s estate. The intricate legal maneuvering involves disputes over will amendments and allegations of fraudulent loan documents, adding layers of complexity to the already dramatic situation.
As the fate of Graceland hangs in the balance, Keough remains resolute in her fight to preserve her grandfather’s legacy and protect the historic property from falling into the wrong hands. The ongoing legal saga underscores the enduring power of Elvis Presley’s legacy and the complexities of preserving iconic landmarks in the face of legal challenges.