Elvis’ Graceland confirm fate of mansion after Lisa Marie Presley’s death | Music | Entertainment

A representative of Graceland, which Elvis bought in 1957, told PEOPLE that the property, which is in a trust, will benefit Lisa Marie’s three daughters.

Upon Elvis’ death on August 16, 1977, she was only nine-yeas-old, so the executor of the estate became her grandfather Vernon Presley. Upon his death in 1979, it went to her mother Priscilla Presley, now 77, who realised something had to be done or they’d be forced to sell Graceland.

So, in 1982, the mansion was opened up to the public for tours. The ownership of the property remained in a trust that was dissolved upon Lisa Marie’s 25th birthday in 1993, when she took full ownership of her family home.

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