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Graceland is the second most famous home in the United States, behind the White House. Elvis Presley always intended the abode to be filled with family and laughter. It was where Elvis lived for 20 years before dying in his private bathroom in 1977. After that, the Presleys used the home for family gatherings and holidays, even after opening it up to the public in 1982. But did Lisa Marie Presley, Elvis’ only daughter, own her ancestral home?

Side by side photos of Lisa Marie Presley and her Graceland home in Memphis, TN.
Lisa Marie Presley and Graceland Estate | Axelle/Bauer-Griffin/FilmMagic/GAB Archive/Redferns
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Graceland remained a place that Lisa Marie called home

Lisa Marie’s death on Jan. 12, 2023, shocked fans. She returned to the Memphis, TN estate just four days earlier, on Jan. 8, to celebrate the life and legacy of her late father on his birthday. This annual event draws Elvis fans worldwide, who celebrate the king of rock and roll at his beloved home. Memphis Travel commemorated the event on Twitter.

In an interview with Today, Lisa Marie shared her feelings regarding Graceland. She said, “I’m always happy when I’m here. It always reminds me of when I was the happiest, I think, in my life. It always brings me right there when I come back.

Lisa Marie spent Christmas 2022 with her family at the palatial estate, reported Express. Graceland archivist Angie Marchese told the news outlet: “Christmas at Graceland for Lisa is always a very special time of the year. Today, she still brings her family here to celebrate the holidays. Graceland is a very special place not only for fans but also for Lisa. It’s home to her.”

However, after Lisa Marie sold her majority interest in Elvis Presley enterprises in 2005, fans wondered if she retained control of her ancestral home. Who owns Graceland?

Did Lisa Marie Presley own Graceland?

Upon Elvis’ death in 1977, his will appointed his father, Vernon Presley as executor and trustee, reported Graceland’s official site. The beneficiaries were Elvis’ grandmother, Minnie Mae Presley; his father, Vernon Presley; and his only child, Lisa Marie. After Minnie Mae and Vernon’s death, The Washington Post reported that Lisa Marie became the Elvis Presley Trust’s sole heir. The trust managed Graceland and other assets along with Elvis Presley Enterprises.

Upon Lisa Marie’s 25th birthday in 1993, the trust automatically dissolved. She formed a new trust to manage the estate along with her mother, Priscilla, and the National Bank of Commerce. Lisa became the owner of The Elvis Presley Trust and its business entity, Elvis Presley Enterprises, Inc.(EPE), until February 2005, when she sold her majority interest in the company.

Lisa Marie retained ownership of Graceland Mansion, the 13 acres around it, and the items inside the home. The family released no information regarding who would own the property moving forward. However, Lisa Marie likely willed the estate to her children Riley, Harper, and Finley.

How many people visit Graceland yearly?

Graceland welcomes over 500,000 visitors each year. In 1991, the building was placed on the National Register of Historic Places. In 2006, it was designated a National Historic Landmark reported its the home’s official website.

The website claims that the most popular times for visitors are between Memorial Day through Labor Day each year. While in the colder months of the year, the home welcomes a few hundred visitors, in the warmer months, that number could swell to upwards of 4,000 per day.

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Lucille Barilla

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Lucille Barilla has been covering the entertainment industry for more than 30 years.

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