What Is Really Happening With Graceland? Everything You Need To Know

Elvis Presley’s iconic estate Graceland in Memphis, Tennessee has found itself in the middle of a legal battle. The legendary home is in danger of being foreclosed, and it was initially set to hit the auction block on Thursday before a judge delayed the sale.

Here’s everything you need to know about the current Graceland situation.

Fight For Graceland

Court documents obtained by Memphis ABC affiliate WATN show that a company known as Naussany Investments and Private Lending LLC is alleging that the late Lisa Marie Presley, the only child of Elvis, borrowed $3.8 million from them and put up Graceland as collateral. They claim that before her death last year, Lisa Marie never paid back the money.

Lisa Marie’s daughter Riley Keough, 34, is firing back by claiming that Lisa Marie never did this and that Naussany’s documents are fraudulent. In a hearing that lasted only eight minutes on Wednesday morning, Chancellor JoeDae Jenkins sided with Riley and delayed the Graceland sale.

“The notary has sworn that the notary did not notarize the signature of Lisa Marie Presley on the deed of trust, which brings into question the authenticity of the signature,” he said, according to ABC News. He added that Graceland is “well loved by this community and indeed around the world.”

Find out more about this in the video below.

Related: Elvis’ Legendary Graceland Estate To Be Auctioned Amid Foreclosure – Family ‘Traumatized’

Graceland Responds

Following this ruling, a Graceland representative responded by telling People Magazine, “As the court has now made clear, there was no validity to the claims.”

“There will be no foreclosure,” the rep continued. “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.”

Meanwhile, Elvis Presley Enterprises agreed, saying, “There is no foreclosure sale. Simply put, the counter lawsuit [that] has been filed is to stop the fraud.” 

Find out more about this in the video below.

Related: Judge Issues Major Ruling On Elvis Presley’s Graceland Sale

Graceland’s History

Formerly, Graceland was built in 1939, and Elvis bought it back in 1957 for $102,500. Then his only child Lisa Marie inherited it when he died there in 1977 at the age of 42. Later, when Lisa Marie died in January of 2023, Riley became the heir of the estate.

Located on 13.8 acres, Graceland has become a mecca for Elvis fans. It opened as a museum and tourist attraction in 1982, and hundreds of thousands of tourists flock there every year. All of the furniture inside it are originals from when Elvis lived there. Elvis is also buried there, as are his parents and daughter.

Take a tour of Graceland in the video below.

This fight to save Graceland has taken a toll on Elvis’ family. A source close to Riley told The New York Post that the actress is “traumatized” by this entire situation. The insider added that Riley “never thought that a historic piece of property could even be considered to go into the hands of any random stranger.”

Finally, Graceland is one of the most iconic landmarks in the entire country, and it should remain with Elvis’ family. Please join us in saying a prayer that they win their fight to save Graceland!