Graceland Foreclosure: What to Know About the Drama Around Elvis Presley’s Home

Graceland foreclosure news broke yesterday (May 20) to the shock of many Elvis Presley fans. The mansion belonging to the late music icon has long operated as a museum following Presley's death in 1977. Now, its future is seemingly up in the air.

Here's a current breakdown of what is known about the Graceland foreclosure.

According to CommercialAppeal.com, there are three "Notice of Foreclosure Sale" listings for Graceland dated for May 5, 12 and 19. In these listings, it states Lisa Marie Presley, the only child of Elvis and Priscilla Presley, allegedly signed a Deed of Trust with Naussany Investments and Private Lending LLC worth $3.8 million. This amount of money was reportedly a loan that used Graceland as collateral.

This loan has reportedly defaulted and has not been paid on since the sudden passing of Lisa Marie Presley in January 2023.

As a result of the default, the listing states Graceland will be auctioned off on May 23 at 11 AM in front of the Shelby County Courthouse in Memphis "to the highest and best bidder for cash, in bar of all equities of redemption, homestead, dower, and all other rights or exemptions of every kind all of which were expressly divested in said Deed of Trust."

As of publishing, no. After Lisa Marie Presley's death, her daughter, Riley Keough, inherited Graceland. Following initial listing news of the Graceland foreclosure, Keough and her legal team filed a lawsuit against Naussany Investments and Private Lending LLC on May 15.

In the lawsuit, Keough claims her mother did not borrow $3.8 million from Naussany Investments and Private Lending LLC, nor did she give a deed of trust to Graceland to the company.

Keough claims that the documents used as evidence of the reported loan were forgeries and that her mother did not actually sign the documents.

Her lawsuit contains two pieces of evidence that could lead to the Graceland foreclosure notice actually being part of a scam.

The strongest piece of evidence is a signed affidavit from Kimberly Philbrick, the notary public who reportedly acknowledged the signing of the documents for the $3.8 million loan. The signed affidavit in Keough's lawsuit shows that Philbrick states she "did not notarize" the loan document, has "never met Lisa Marie Presley" nor "ever notarized a document signed by Lisa Marie Presley." Philbrick's affidavit also notes, "I do not know why my signature appears on this document."

The other piece of evidence has to do with language included in the documents involved in the alleged $3.8 million loan, which was reportedly notarized in Florida in May 2018. The language in question involves either physical or online presence for any document notarization. However, online notarization of any documentation in the State of Florida didn't begin until 2020, and such language in notarization documents wasn't included prior to 2020.

Per CBS Memphis affiliate WREG and USA Today, the next step in the Graceland foreclosure drama is set for Wednesday, May 22. On that day, there will be an injunction hearing in Shelby County Chancery Court with both parties of this legal matter.

Elvis Presley is one of the biggest, most celebrated icons of the music world.

He had everything: Talent, charisma and looks to spare. Even looking back at the earliest performances of his career will make you feel all tingly. Some people just have that magical "It" factor, and Elvis certainly had that, too.

"The King" remains one of the best-selling artists in music history selling about 400 million records worldwide. According to the Recording Industry Association of America (RIAA), 139 million of those records were sold in the United States. The only other artists to out-sell him in the United States are Garth Brook and The Beatles, who've sold 157 million and 183 million records, respectively.

The influence of Elvis is an incredible ripple effect. Notably, he was a massive influence on The Beatles. Paul McCartney is notably quoted saying, "When we were kids growing up in Liverpool, all we ever wanted to be was Elvis Presley." John Lennon concurred and was quoted saying, "Nothing affected me until I heard Elvis. Without Elvis, there would be no Beatles."

Even contemporaries recognized the magic of Elvis. Little Richard once said, "Elvis was God-given, there’s no other explanation. A Messiah comes around every few thousand years, and Elvis was it this time."

To celebrate his life and career, check out the videos below. Long live "The King."

Out of all the musical performances from Elvis’ film career, this is probably the best one. There weren't any special effects, but there sure was a lot of electricity. Over six decades later, this clip still holds up.

Honestly, watching some of these women swoon will kind of make you do the same. It's nothing short of hilarious to hear these seniors recall what their parents thought of Elvis. It's funny how the more things change, the more they stay the same.

Satellite technology was still pretty new when Aloha From Hawaii premiered in 1973. It was definitely a sign of the future. An estimated 1-1.5 billion people tuned in to see Elvis in that infamous white jumpsuit.

Seriously, the entire “’68 Comeback Special” is gold. It’s hard to pick a favorite performance, but this rendition of “One Night” is rather amazing. Never forget that "The King" could sing. What a voice!

Graceland hosts a beautiful candlelight vigil during "Elvis Week" to honor the anniversary of Presley's passing. The event has been livestreamed for years. You can see a clip from this year's vigil below.

Speaking of Graceland, “The Guest House,” an Elvis resort in Memphis, opened in 2016. Honestly, we’ve now added it to our “Bucket List.” Check out a tour of the hotel below. It's simply stunning!