topic Re: Graceland in foreclosure? in Community Chat

Graceland in foreclosure?

mspemberley — Tue, 21 May 2024 04:31:10 GMT

News sources are reporting that Graceland is in foreclosure and is scheduled to be auctioned off at the Shelby County courthouse next week. It was reported that Elvis' granddaughter, Riley Keough, has hired attorneys to block the auction. I'm in shock! I was just there week before last and all was well. It was a busy day of tours, people everywhere. I loved every minute of our tour. It's a beautiful mansion and the grounds are amazing. The exhibits of memorabilia are so well done. The memorial garden where Elvis and his family are buried is especially touching. I hope this is worked out and it remains in the family and open for tours to the public.

In person, the light-filled living room and adjoining music room are just stunning....

Re: Graceland in foreclosure?

elated — Tue, 21 May 2024 05:07:46 GMT

Presley’s legendary Graceland mansion is on the verge of being sold at a foreclosure auction on Thursday — sparking a dramatic legal battle from his granddaughter, Riley Keough, who called the pending sale “fraudulent.”

A notice from Shelby County Courthouse states that Graceland and its surrounding property in Memphis, Tennessee will be auctioned off to the highest bidder for cash on hand.

Keough, 34, the current owner of the property and granddaughter of the King of Rock ‘n’ Roll, is fiercely contesting the sale. She filed a lawsuit calling the auction a sham, and on Monday, her attorney secured a temporary restraining order.

An injunction hearing is set for Wednesday.

A source told The Post that Keough is “traumatized” at what has unfolded and “never thought that a historic piece of property could even be considered to go into the hands of any random stranger.”

Visitors queue to enter the Graceland mansion of Elvis Presley on August 12, 2017 in Memphis, Tennessee. AFP via Getty Images© Provided by New York Post

Re: Graceland in foreclosure?

SandySparkles — Tue, 21 May 2024 05:09:46 GMT

😮WOW! I understand how these things happen, but my question is WHY?🤷‍♀️ This is such an ICONIC symbol of American music history that has been enjoyed by fans for decades! I do not understand the business decisions, but hope when the legal dust settles, it will be preserved as is, and remain open to the public!🤞🤞 I suppose it will just be changing hands.🤔 If not, it had an AMAZING run!!!😁 I have a friend that was married there many sunsets ago because her husband was a HUGE fan of all things ELVIS, and his memorabilia.🥰 My dear mother was a serious fan as well.🥰

How EXCITING that you were able to visit, and experience such a magical place!!!❤ Have your feet touched the ground yet?😃 I would LOVE💝 to be able to tour it some day.🥰

Love❤ ELVIS or not, he will ALWAYS be the devilishly handsome KING of rock and roll!!!❤❤❤

~~~All we need is LOVE💖

Re: Graceland in foreclosure?

SandySparkles — Tue, 21 May 2024 05:22:17 GMT

@elated I have never seen these photos!🥰 THANK you SO much for caring to share these BEAUTIFUL glimpses of Elvis's life!🤗 That is a VERY handsome photo of him! Whew!🥰

~~~All we need is LOVE💖

Re: Graceland in foreclosure?

Jo1313 — Tue, 21 May 2024 11:45:23 GMT

Graceland should be considered a national treasure..

Wish I coul afford it..I probably can't even afford the gardening fees.

Sure hope it doesn't have to be sold.

Re: Graceland in foreclosure?

haddon9 — Tue, 21 May 2024 12:02:25 GMT

Oh that's too bad! I hope everything works out for the family.

My only time at Graceland was when a friend and I were visiting another friend who lived in Memphis. It was 1970 and we were 15 and not yet driving.

My friend's mother offered to drive us to see Graceland. At the time Elvis was still alive but he was not at home that day. We stopped the car on the side of the road in front of the gates (it had the musical notes on it) and took some photos.

My friend's mom started to talk to a caretaker on the other side of the fence and he offered to give us all a ride on his golf cart around the property. We jumped at the chance ! LOL! We saw the house up close and some horses off to one side in a fenced area....we were the only ones arund then.

This was before any museum, etc. The road where Graceland was at the time was not built up either and I'm sure it must be today.

Re: Graceland in foreclosure?

CJC — Tue, 21 May 2024 12:17:29 GMT

@haddon9 You were fortunate to visit Graceland when you did. It's surrounded by a trashy neighborhood now. Definitely no more beautiful horse farms.

Re: Graceland in foreclosure?

Jacie — Tue, 21 May 2024 12:48:59 GMT

Something is wrong with this picture! A property just doesn't suddenly go into foreclosure. It takes awhile. The granddaughter who is running the show either isn't business savvy or is getting really bad advice, or both.

Re: Graceland in foreclosure?

Puppy Lips — Tue, 21 May 2024 13:08:14 GMT

The report this morning said that The daughter Lisa took out a 3.8 million dollar loan against the property and never paid it back. The grand daughter is saying the signatures were forged, while admitting the signature looks similar. I would think that would be easy enough to prove. Where did the loan proceeds go? The money has to be deposited somewhere.

Re: Graceland in foreclosure?

SharkE — Tue, 21 May 2024 13:10:18 GMT

To bad Colonel Tom isn't alive. LOL He would be right there in the fore front. Kicking hiney every which way.

Re: Graceland in foreclosure?

haddon9 — Tue, 21 May 2024 13:12:20 GMT

@CJC wrote:
@haddon9 You were fortunate to visit Graceland when you did. It's surrounded by a trashy neighborhood now. Definitely no more beautiful horse farms.

@CJC It was the only time I was there and I can only imagine how it must look so different now! From what I remember it was somewhat rurual.

Re: Graceland in foreclosure?

LindaSal — Tue, 21 May 2024 13:12:57 GMT

I got to visit Graceland a couple of years ago and I enjoyed it very much! It was left exactly as it was when Elvis lived there. It was really a wonderful experience and I hope this gets resolved for the benefit of the remaining family.

Re: Graceland in foreclosure?

haddon9 — Tue, 21 May 2024 13:14:33 GMT

@Jacie wrote:
Something is wrong with this picture! A property just doesn't suddenly go into foreclosure. It takes awhile. The granddaughter who is running the show either isn't business savvy or is getting really bad advice, or both.

I agree. It doesn't make sense.

I would think that the mortgage has been paid off...well maybe the other buildings on the property? Plus all of the paying tourists that go through must generate a substantial income.

Re: Graceland in foreclosure?

goldensrbest — Tue, 21 May 2024 13:15:08 GMT

Oh i really hope this does not happen, as a fan of elvis, been there years ago,there are his and lisa, his parents buried there.

Re: Graceland in foreclosure?

KittySoftPaws — Tue, 21 May 2024 13:25:22 GMT

@Puppy Lips I tend to believe Lisa Marie did this, and this is why it's happening. Seems she went off the rails later in life and made some poor decisions. We shall see how it plays out. Either way it's a shame. I visited it about 15 years ago and it was incredible to see not only the home, but all of his Cadillacs and the pink one he bought his Mother who never learned to drive.

Re: Graceland in foreclosure?

qualitygal — Tue, 21 May 2024 13:35:50 GMT

Maybe the state will pick it up, and keep it as a treasure. He covered so many years of entertainment that he was a definite part of American History.

Re: Graceland in foreclosure?

beckyb1012 — Tue, 21 May 2024 13:46:18 GMT

They are saying Lisa Marie took out a 3.8 million dollar loan with the deed to Graceland as the collateral. The family is saying this so called LLC is a scam and Lisa Marie's signture on the documents were forged. They were notarized of course, but claiming she did not do her notary duty in the presence of Lisa Marie.

I hope it is a scam on the part of the LLC and that Lisa never signed anything.

Re: Graceland in foreclosure?

bikerbabe — Tue, 21 May 2024 15:34:21 GMT

I know many don’t like her but Priscilla should have stayed in control of the estate finances.

Lisa Marie had too many issues and was pretty messed up. I believe Lisa Marie sold off everything except the Graceland property years ago, which means if she blew through the money, that was it.

Re: Graceland in foreclosure?

Still Raining — Tue, 21 May 2024 15:48:25 GMT

If the loan is legit there should have been lien filed I think. If the courts are proceeding it might well be true.

Re: Graceland in foreclosure?

beckyb1012 — Tue, 21 May 2024 15:50:49 GMT

It is a Non-Judicial foreclosure where they as the lien holder have a "power to sale" clause.