Elvis Presley Final Resting Place Graceland Facing Foreclosure

The Elvis Presley final resting place and renowned tourist attraction Graceland Mansion is embroiled in a legal dispute as it appears to be prepared for a foreclosure auction later this week. However, actor Riley Keough, the granddaughter of Elvis Presley, is countering this with a lawsuit alleging fraud.

The estate, constructed in 1939, is reportedly scheduled to be auctioned off on Thursday at the Shelby County courthouse in Memphis, Tennessee, as per a purported foreclosure notice.

Lisa Marie Presley, the daughter of Elvis Presley, allegedly used Graceland as collateral to secure a $3.8 million loan from Naussany Investments and Private Lending in 2018. However, she failed to repay the loan prior to her father’s death in 2017. As a result, the foreclosure is purportedly taking place.

“Daisy Jones and the Six,” a popular television series from the previous year, featured Keough as its heir.

Keough asserts in a lawsuit that Naussany Investments “appears to be a fraudulent organization established with the intention” of deceiving her family.

Graceland Never Mortgaged

Additionally, the lawsuit asserts that Keough’s mother, Lisa Marie Presley, never provided the company with a deed of trust to Graceland or “borrowed money” from them. It further claims that any documents that dispute this are forgeries.

The notary public whose name appears on the deed of trust has provided a sworn affidavit in the lawsuit, which states, “I did not notarize this document.”

Wednesday’s hearing will contemplate the aforementioned allegations, subsequent to which a temporary restraining order was reportedly issued on Monday, as stated by Keough’s counsel, as reported by the CBS affiliate in Memphis, WREG.

“You want to maintain the status quo and ensure that nothing changes; nobody should be harmed,” said legal contributor for CBS News Jessica Levinson. “And the biggest harm would come from an illegitimate sale of Graceland.”

Two individuals who appeared to be associated with the investment and lending firm responded to CBS News’ inquiries by stating that they would relay our concerns to their legal representatives.

Elvis Presley was a cultural icon

The foreclosure claims are “false,” according to a statement from Elvis Presley Enterprises, the property manager of Graceland. Elvis Presley’s ex-wife, Priscilla Presley, shared a photograph of Graceland with the caption “It’s a scam!” on social media.

In 1957, Elvis Presley Sr. purchased Graceland for $102,500 at the age of 22. The mansion was 10,266 square feet at the time of his acquisition, and Elvis acquired 13.8 acres of the farm surrounding the residence. The Graceland estate is currently 17,552 square feet in size.

In 1991, the American National Register of Historic Places included Graceland, the final resting place of Elvis Presley in 1977. Named after Grace, an aunt of one of the original proprietors, Graceland attracts more than 600,000 visitors annually.

Elvis Presley was a cultural icon who revolutionized music. He rose from humble beginnings to become the “King of Rock and Roll.” With his distinctive voice, charismatic stage presence, and blend of genres, Elvis left an indelible mark on pop culture.

His hit songs like “Jailhouse Rock,” “Hound Dog,” and “Don’t Be Cruel” still resonate today. Elvis’ impact extended beyond music—his fashion sense, dance moves, and sex appeal captivated audiences worldwide. Despite his untimely death, Elvis’ legacy continues to inspire artists and fans alike.