HomeAmerican EntertainmentPeopleElvis Presley’s Graceland: Here’s What’s Happening to the Property Following Lisa Marie Presley’s Death

Elvis Presley’s Graceland: Here’s What’s Happening to the Property Following Lisa Marie Presley’s Death

by Craig Garrett
(Photo credit should read MANDEL NGAN/AFP via Getty Images)

Following the passing of Lisa Marie Presley, Elvis‘s famous Graceland mansion in Memphis Tennessee will remain in the family. This beneficial trust, containing the property, will be provided to Lisa Marie’s three daughters – Riley, Harper, and Finley – according to a spokesperson for Graceland.

According to People, after Elvis Presley’s death in 1977, his mansion was bequeathed to his only daughter, Lisa Marie. On June 7, 1982, Graceland opened its doors to the public as a house museum – marking the first time a site had been recognized for significance related to rock music. Nearly 10 years later in 1991, The National Register of Historic Places listed it and then again declared it a National Historic Landmark on March 27th, 2006. Today it attracts an estimated 650,000 tourists each year.

After beginning her family with Danny Keough, Lisa Marie had two children: Riley who is now 33, and Benjamin who passed away in July 2020 at the age of 27. In 2006 she married Michael Lockwood and had twin daughters Harper and Finley (now 14 years old). Their marriage ended in 2016.

Lisa Marie Presley became the sole owner of Graceland in 1993

The official website of Graceland tells us that Lisa Marie, only nine years old at the time, was bequeathed a trust for ownership of the estate. Upon turning 25 in 1993, this trust dissolved and she became its sole owner. To manage it properly alongside her mother Priscilla Presley and the National Bank of Commerce, The Elvis Presley Trust was formed by Lisa Marie soon after.

Last Thursday evening, Priscilla issued a statement to People confirming the news. “It is with a heavy heart that I must share the devastating news that my beautiful daughter Lisa Marie has left us,” she said. “She was the most passionate strong and loving woman I have ever known. We ask for privacy as we try to deal with this profound loss. Thank you for the love and prayers. At this time there will be no further comment.”

Lisa Marie Presley’s music career began in 2003 with the debut of her pop-rock album “To Whom It May Concern.” After 9 years, she released her last studio album titled “Storm & Grace” in 2012. Lisa Marie Presley, born in Memphis Tennessee, tragically lost her father at the age of 9. She was Elvis and Priscilla’s only child, leaving her to inherit his considerable estate. Her last public appearance was at the Golden Globes just Tuesday night.

Last Friday, it was officially declared that she would be buried in Graceland’s Meditation Garden alongside her son Benjamin. “Lisa Marie’s final resting place will be at Graceland. Next to her beloved son Ben,” a statement from her daughter Riley Keough’s rep said. Graceland is the final resting place for some of Elvis’s dearest family members. This includes Gladys Presley (his mother), Vernon Presley (his father), and Minnie Mae Presley (his grandmother).