Elvis Presley’s Granddaughter Saves Graceland From Being Auctioned Off

While often criticized for his provocative antics on stage, Elvis Presley captivated a generation as he gained the title “King of Rock and Roll.” With a love for music and rhythm, the singer is one of the best-selling music artists of all time. And while the icon passed away in 1977, his legacy continues on thanks to Graceland. A place for fans to get an in-depth look at his life and legacy, his granddaughter recently defended his estate when an investment company tried to auction it off. 

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Looking at the personal life of Elvis, the icon only had one child, Lisa Marie Presley. When the singer passed away, Graceland fell into the hands of Lisa Marie. Sadly, in 2023, Lisa passed away, leaving the estate to her daughter Riley Keough. According to Naussany Investments and Private Lending LLC, Lisa Marie borrowed a staggering $3.8 million before she died. Putting up Graceland as security, the companies looked to auction off the property to get the money back. But defending her grandfather’s legacy, Keough accused them of fraud. 

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Elvis Presley And Graceland Remain In The Family

Filing a lawsuit, Keough claimed Naussany to be a “false entity created for the purpose of defrauding the Promenade Trust (the trust of Keough and formerly of Lisa Marie), the heirs of Lisa Marie Presley or any purchaser of Graceland at a non-judicial sale.” Hurling numerous accusations against the company, Keough also suggested they forged her mother’s signature. 

With the lawsuit eventually finding its way in front of Judge Chancellor JoeDae L. Jenkins, the judge blocked the sale, noting, “The estate is considered unique under Tennessee law, and in being unique, the loss of the real estate will be considered irreparable harm.”

While blocking the sale, an attorney for Keough announced they received an email from Naussany explaining how they are no longer moving forward with their claims. Excited about the news, Elvis Presley Enterprises said in a statement, “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.” 

(Photo by Michael Ochs Archives/Getty Images)

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