What will happen to Elvis Presley’s Graceland after Lisa Marie Presley’s death?
Graceland, the iconic home of Elvis Presley in Memphis, Tennessee, will stay in the family after the death of Lisa Marie Presley going to her daughters.
The King of Rock and Roll’s famous Graceland estate in Memphis, Tennessee, will stay in the Presley family. After his daughter Lisa Marie Presley’s death, it will be inherited by her three daughters, Riley, Harper and Finley sources confirmed to People magazine.
Lisa Marie inherited the iconic property in 1977, when she was only nine years old, in a trust and took full ownership of the mansion in 1993 when she turned 25 and the trust was dissolved. To ensure that her childhood home would stay in the family, Elvis’ daughter put the house into a new trust with her mother, Priscilla Presley, and the help of the National Bank of Commerce calling it The Elvis Presley Trust.
The mansion and property were acquired by Elvis Presley for $100,000 in 1957. The estate was estimated to be worth between $400 to $500 million in 2020 according to Rolling Stone. The King’s daughter vowed never to sell the estate despite rumors to the contrary: “Graceland was given to me and will always be mine. And then passed to my children. It will never be sold.”
Who are Lisa Marie Presley’s daughters
Lisa Marie had four children between two marriages. With her first husband, Danny Keough, who she married in 1988, she had a daughter Riley, now 33, and a son Benjamin, who was 27 when he took his life in 2020. She then had two more daughters, twins Harper and Finley now 14, with Michael Lockwood, who she married in 2006, they were divorced in 2016. Her three remaining children will inherit Graceland which is open to fans of the late musician and his family for tours and overnight stays.