Graceland: Elvis Presley’s Iconic Home Remains within the Family Amid Legal Battle Raven Priscilla’s daughter Through Legal Dispute Reporting by Charlie Lankes The 17-acre estate with a 16-room mansion inside it is The of Elvis Presley legendary Graceland Estate, a symbol of his enduring legacy (which still produces $7 million annually), is now at center stage in a bitter court fight. Riley Keough, the granddaughter of the King of Rock and Roll, wants to keep the Memphis landmark in her family. Her efforts to prevent the sale of Graceland at a foreclosure auction have so far succeeded.
The push to sell Graceland originates from a suit by Naussany Investments & Private Lending LLC. They allege that Lisa Marie Presley A/K/A Keough’s late mother, defaulted commercial lien back in 2018 with Graceland as collateral. The company had set a sale date for a foreclosure auction, alleging that the Promenade Trust, which includes the Graceland museum, is in default for $38 million.
However, just before the sale, a Tennessee judge issued a temporary injunction halting the auction. Keough, now the sole trustee of the Promenade Trust, has filed a lawsuit against Naussany alleging that the company is a fraudulent entity created to mislead the trust, the heirs of Lisa Marie Presley or any potential buyer of Graceland at a non-judicial sale. She also claims that the loan documents are fake and fraudulent.
Keough, who fought her grandmother, Priscilla Presley, through the courts for this prize, took ownership of Graceland in October 2023Authorities say Although Graceland holds a unique place in history–Elvis Presley acquired the property for $102,500 in 1957, which today would be worth more than $1.1 million by inflation–Riley Keough’s legal permanence with it keeps Graceland not only a treasure but also a battle. Elvis’s parents, Vernon and Gladys Presley, put down the initial payment of $1,000 and lived in the mansion. He moved into Graceland later in 1957, an exceptionally busy year for Elvis since he was filming “Jailhouse Rock” as soon as he finished donning his combats.
