No matter how much time passes, certain people will always remain icons and legends in the United States.
Whether they’re famous rock stars, sports players, or political leaders, these people are a key part of American culture.
But this American rock icon’s legendary mansion is on the brink of foreclosure.
Elvis Presley’s Graceland could hit the auction block
WREG-TV News reported that a notice from the Shelby County Courthouse shows Graceland and its surrounding property in Memphis, Tennessee, was set to be auctioned this month to the highest bidder.
The legendary mansion has sparked a wild legal battle involving Elvis’s granddaughter, Riley Keough, who called the foreclosure and pending sale “fraudulent.”
Keough is the current owner of the property, and the 34-year-old is fighting the sale in court.
She filed a lawsuit calling the auction a sham and her attorney has secured a temporary restraining order while an injunction hearing is set for this week.
And on Wednesday, a Memphis Judge, Chancellor JoeDae Jenkins, issued a ruling blocking the foreclosure sale for the time being.
A source told the New York Post that Keough is “traumatized” at what happened, as she “never thought that a historic piece of property could even be considered to go into the hands of any random stranger.”
A 2018 deed of trust showed that Riley’s late mother, Lisa Marie Presley, signed and secured a $3.8 million loan with Graceland as collateral.
Nuassany Investments and Private Lending, which holds the loan, claims that Lisa Marie defaulted.
However, Keough’s lawsuit claims that Lisa Marie never borrowed money from the Missouri-based company.
“These documents are fraudulent,” the suit reads, before stating that Lisa Marie’s signatures were forged.
It also alleges that Naussany is not a legitimate company and the notary listed on the documents denies ever meeting Lisa Marie or notarizing her signature.
The Judge is allowing the company time to gather materials to defend itself against these claims.
Elvis Presley purchased Graceland in 1957 for $102,000.
This was the same year he released some of his biggest hits, including All Shook Up and Blue Christmas.
After he died in 1977, Lisa Marie inherited the mansion and later opened it to the public as a museum in 1982.
When Lisa Marie died in January of 2023, Riley became the heir.
A shrine to the greatest pop culture icon
While Graceland is certainly a lavish mansion, it’s also a shrine where fans go to pay homage to one of the greatest pop culture icons of all time.
The estate spans 13.8 acres and draws hundreds of thousands of visitors each year.
Graceland was built in 1939 and was named after Ruth Brown Moore’s aunt, Grace Toof.
The “Jungle Room” is one of the most popular rooms in the home and features unique furniture that Elvis bought to irritate his father.
Ten months after Lisa Marie’s death, a judge approved Riley’s ownership of Graceland and named her the sole trustee of the family estate.
Priscilla stated that she wished to be buried next to Elvis last year.
His parents, Lisa Marie, and her son Benjamin are also interred there.
Elvis Presley Enterprises, which operates the Graceland campus, issued a statement after the ruling Wednesday, saying, “As the court has now made clear, there was no validity to the claims. There will be no foreclosure. Graceland will continue to operate as it has for the past 42 years, ensuring that Elvis fans from around the world can continue to have a best in class experience when visiting his iconic home.”
Patriot Political will keep you up-to-date on any developments to this ongoing story.
