Elvis Presley will always be a superstar, with the icon leaving behind an unrivaled musical legacy. However, his Memphis home, the iconic mansion Graceland, is now the center of a dispute. His granddaughter, actress Riley Keough, the rightful heir to the property, has filed a lawsuit to block the sale.
Graceland has a rich history and Elvis is just one small part of it. The estate, declared a National Historic Landmark in 2006, came into Elvis’ life after his breakout on the music scene. He bought the mansion for him and his family in 1956 and lived there for two decades until his untimely death.
His father, Vernon, inherited the estate after the singer died in 1977, which later went to Elvis’ only daughter, Lisa Marie Presley, after she turned 25. Following Lisa Marie’s death in 2023, the sole trustee and owner is Riley Keough, Lisa Marie’s eldest daughter and Elvis’ granddaughter. So, why is Graceland up for auction soon?
Why is Riley Keough fighting for Graceland?
The 34-year-old Riley Keough is the only trustee of the Promenade Trust and has filed a lawsuit to block Naussany Investments & Private Lending LLC from selling Presley’s iconic estate in a non-judicial sale scheduled for Thursday, May 23. Keough also claims in the complaint that the LLC may not even be “a real entity.”
People, who obtained the court documents, report that the company trying to auction off the estate claims Keough’s late mother, Lisa Marie Presley, borrowed $3.8 million and gave them a deed of trust encumbering Graceland as security before her death. Keough alleges that “the note and deed of trust are fraudulent and unenforceable,” claiming Lisa Marie Presley’s signature was forged.
In a statement to People, Elvis Presley Enterprises, which runs Graceland and the assets of the Elvis Presley Trust, agreed with Keough’s claims: “Elvis Presley Enterprises can confirm that these claims are fraudulent. There is no foreclosure sale. Simply put, the counter lawsuit has been filed to stop the fraud.”
Elvis’ ex-wife, Priscilla Presley, also weighed in on the matter on social media. She posted a video showing Graceland, with a red note on top of it reading, “It’s a scam,” referring to the foreclosure auction. A hearing is scheduled to take place on Wednesday.
Published: May 21, 2024 09:37 am