Elvis Presley’s iconic Graceland to be repossessed and sold, granddaughter Riley Keough ‘traumatised’

A furious legal row has broken out after it was announced Elvis Presley’s home could be sold with his granddaughter claiming the sale is “fraudulent”.

Elvis Presley at Graceland. Picture: EPE.

Elvis Presley’s legendary Graceland mansion is on the verge of being repossessed and sold as early as Thursday — sparking a dramatic legal battle from his granddaughter, Riley Keough, who called the pending sale “fraudulent”.

A notice from the Shelby County Courthouse states that Graceland and its surrounding property in Memphis, Tennessee, will be auctioned off to the highest bidder for cash on May 23, local TV network WREG News reported.

Ms Keough, 34, the current owner of the property and granddaughter of the “King of Rock ‘n’ Roll”, is fiercely contesting the sale, reported the New York Post.

She filed a lawsuit calling the auction a sham, and on Monday, her lawyer secured a temporary restraining order.

An injunction hearing is set for Wednesday.

Elvis Presley at Graceland. Picture: EPE.

A source told The New York Post that Ms Keough is “traumatised” at what has unfolded and “never thought that a historic piece of property could even be considered to go into the hands of any random stranger”.

The drama stems from a 2018 deed of trust that Ms Keough’s late mother, Lisa Marie Presley, allegedly signed, securing a $5.70 million ($US3.8m) loan with Graceland as collateral.

The loan was purportedly taken out through Naussany Investments and Private Lending, a Missouri-based company. The firm claims Lisa Marie, who died last year at 54, defaulted on the loan.

But Ms Keough’s lawsuit, filed May 15, asserts that Ms Presley never borrowed any money from Naussany.

“These documents are fraudulent,” the suit declares, alleging Lisa Marie’s signatures were forged and that Naussany Investments isn’t even a legitimate company.

“Furthermore, the notary listed on the documents denies notarising Lisa Marie’s signature or ever meeting her.”

Riley Keough attends The 2024 Met Gala. (Photo by Aliah Anderson/Getty Images)

Lisa Marie Presley in 2023. (Photo by Todd Williamson/NBC/NBC via Getty Images)

Elvis bought the Graceland estate in 1957 for $154,000 ($US102,500), the same year he released hits like Blue Christmas and All Shook Up.

Lisa Marie Presley inherited it after Elvis’ death in 1977, and it opened to the public as a museum in 1982. After her death in January 2023, Ms Keough became the heir.

Graceland is not just a house — it’s a shrine to one of the greatest pop culture icons ever.

Spanning 13.8 acres, the estate draws hundreds of thousands of visitors annually who come to celebrate the legacy of Elvis. The mansion, built in 1939, was named after Ruth Brown Moore’s aunt, Grace Toof.

Known for its eclectic decor, Graceland’s “Jungle Room” is a notable highlight, filled with lush greenery and unique furniture Elvis bought to irritate his father.

According to the Graceland website, all the furniture in the home is original from Elvis’ time.

A judge approved Ms Keough’s ownership of Graceland 10 months after her mother’s death, naming her the sole trustee of the family estate following a legal tussle with her grandmother, Priscilla Presley, 78, Elvis’ ex-wife.

Graceland was built in 1939 but later bought by Elvis Presley who lived there from 1957 to 1977. Picture: Alamy.

The dispute arose over a 2016 amendment to Lisa Marie’s will that removed Priscilla Presley as trustee. Priscilla’s attorneys claimed she only learned of the amendment after her daughter’s passing.

Lisa Marie passed away on January 12, 2023, after experiencing cardiac arrest at her residence in Calabasas, California.

An autopsy later revealed that her death was due to a “small bowel obstruction” resulting from a previous bariatric surgery.

Last year, Priscilla Presley stated her wish to be buried next to her late ex-husband Elvis at his Graceland estate upon her own death.

Currently, Elvis, his parents, Lisa Marie, and her son Benjamin are all interred at Graceland.

This story was published in the New York Post and is published with permission.

Originally published as Elvis Presley’s iconic Graceland to be repossessed and sold, granddaughter Riley Keough ‘traumatised’