Graceland, Elvis Presley’s home, could be sold at auction

Graceland, Elvis Presley’s home, could be sold at auction
Graceland, Elvis Presley’s home, could be sold at auction

Will Graceland be sold to the highest bidder? Elvis Presley’s iconic house, in Memphis (southern United States), is at the heart of a legal battle between the King’s granddaughter, Riley Keough, and an investment company. The latter claims that Lisa Marie Presley, the singer’s only daughter and Riley’s mother, borrowed several million from him, pawning the splendid residence, but never repaid her debt. The family swears it’s not true.

According to recently released legal documents, Graceland and the land surrounding it are to be sold at auction on May 23, 2024, as part of a foreclosure procedure, local television station News Channel 3 revealed. But Riley Keough , heir to the property after the death of her mother in 2023, temporarily blocked the sale by filing a complaint against her mother’s supposed creditor. A hearing is scheduled for May 22, 2024, according to the “Daily Mail”.

Elvis’ granddaughter’s lawsuit against Naussany Investments and Private Lending claims the loan documents are “fraudulent.” The 34-year-old actress assures that her mother never borrowed money from the firm and that her signature was forged. Naussany Investments wouldn’t even be a real business, according to her. Moreover, the notary cited in the contract would have denied having authenticated Lisa Marie’s signature. He would never have even met the latter.

Known throughout the world, Graceland has belonged to the Presley family since 1957. Elvis bought this magnificent house, whose entrance is framed by white columns, with its grounds, for his mother Gladys. Acquired for $102,500, the property would today be worth between 400 and 600 million, according to “Rolling Stone” magazine. Open to the public since 1982, it welcomes 650,000 visitors each year. The King, his parents, his daughter Lisa Marie and her son, Benjamin Keough, are buried there. There is also the cenotaph of Elvis’ stillborn twin brother, Jesse Garon.

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