Elvis Presley’s historic Graceland residence up for foreclosure auction which ‘traumatized’ granddaughter Riley Keough
MEMPHIS, TENNESSEE: Elvis Presley’s Graceland Estate is on the verge of going under the hammer as part of a foreclosure auction on Thursday, May 23, which allegedly “traumatized” the King of Rock ‘n’ Roll’s granddaughter Riley Keough.
Keough, now the sole owner of the property after the passing of her mother and Elvis’ only daughter Lisa Marie in January 2023, is vehemently opposing the auction and calling the pending bid “fraudulent.”
Elvis Presley’s estate is going for auction
Recently, a notice was issued from Shelby County Courthouse saying that Elvis’s estate along with its surrounding property in Memphis, Tennessee, will be sold to the highest bidder in the foreclosure auction on Thursday, May 23, according to the New York Post.
Keough, though “traumatized” by the impending bid, is contesting the sale with her attorneys securing a temporary restraining order. An injunction hearing is scheduled for Wednesday, May 22.
It was revealed previously that the historic estate will be sold to the highest bidder after the previous owner Lisa Marie failed to repay a loan of $3.8 million taken in 2018 with Graceland as collateral.
Lisa Marie allegedly took the loan out through the Missouri-based company, Naussany Investments, with the firm alleging the ‘Jailhouse Rock’ singer’s daughter defaulted on the loan.
Following the notice, the ‘Mad Max: Fury Road’ actress filed a lawsuit on May 15 in Shelby County Chancery Court, and contested the auction, claiming Lisa Marie never borrowed any money from Naussany Investments.
The lawsuit claimed, “Lisa Marie Presley never borrowed money from Naussany Investments and never gave a deed of trust to Naussany Investments,” before declaring, “These documents are fraudulent.”
The suit also alleged Lisa Marie’s signatures were forged. The suit further accuses Naussany Investments of being an illegitimate company.
Keough also claims the loan provider “never recorded” the “purported deed of trust” in the Shelby County Register’s Office, plus there are issues “that strongly indicate the documents are forgeries," the New York Post reported.
Keough’s suit further added that the notary listed on the documents, Kimberly Philbrick, “never met Lisa Marie Presley nor notarized any documents for her.”
Graceland carries a piece of history
The Graceland manor not only served s the residence of the ‘Burning Love’ singer but also acts as the resting place for the iconic rockstar. Elvis and his parents Vernon and Gladys Presley are laid to rest at Graceland.
Even the ‘Can’t Help Falling in Love’ singer’s daughter Lisa and her son Benjamin Keough are also buried there.
Priscilla has also requested to be buried there upon her death.
The building was built in 1939 and was bought by Elvis in 1957 for $102,500. After he died in 1977, the house was opened to the public as a museum in 1982.
