The granddaughter of Elvis Presley is fighting plans to publicly auction his Graceland estate in Memphis after a company attempted to sell the property based on claims that a loan using it as collateral was not repaid. Court documents show a public auction for the estate had been scheduled for this Thursday.
FILE - Fans wait in line outside Graceland Tuesday, Aug. 15, 2017, in Memphis , Tenn. The granddaughter of Elvis Presley is fighting plans to publicly auction his Graceland estate in Memphis after a company tried to sell the property based on claims that a loan using the king of rock ’n’ roll’s former home as collateral was not repaid.
A public notice for a foreclosure sale of the 13-acre estate posted earlier in May said Promenade Trust, which controls the Graceland museum, owes $3.8 million after failing to repay a 2018 loan. Keough inherited the trust and ownership of the home after the death of her mother,Naussany Investments and Private Lending said Lisa Marie Presley failed to pay back the loan and sought to sell the estate on the courthouse steps, according to the foreclosure sale notice.
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