Garry
He apparently couldn't pay the mortgage on it, and lost the home. When the
house was sold after Elvis died it was sold furnished. The guy Reno bought
the house from left it furnished, so a lot of the stuff in the house
belonged to Elvis. On the auction site the house has been gutted, and
repainted.
It was a nice house, and I could see why Elvis spent so much time there, but
the kitchen was oddly very small, like one you would see in an apartment
somewhere. People like to say how small Graceland is, but this house is even
smaller.
I wonder what happened to all of the stuff in the house that belonged to
Elvis...maybe Reno took off with it.
<Nvfi...@juno.com> wrote in message
news:1140357022....@o13g2000cwo.googlegroups.com...
> http://cgi.ebay.com/CA-Palm-Springs-Elvis-Presley-Home-1-75-Acre-Spanish_W0QQitemZ4441459461QQcategoryZ12605QQrdZ1QQcmdZViewItem
>
Also see: http://tinyurl.com/m3223
--
T.
Yes, and also "I Miss You". Both recorded 1973/09/23.
--
T.
"Mr. T" <not@valid> wrote in message
news:66KdneC2WYc...@telenor.com...
In that house, yes.
I stayed there with and without Elvis and Palm Springs is a great town to
just relax and not think of the outside world.
Great food and great women.
Marty
>
Hmm..tell us more Marty. :) Just joking.
Is a cool place.
Has it changed any since you were there? Looks a bit 'dated' to me.
Charley
~~~~~~~~~~~
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TAKIN' CARE OF BUSINESS
If it was willed to Lisa Marie then how could it get sold in 1979 when
she was only 11?
Blair
If minors inherit property or money throughl, there is a
caretaker/supervisor* until that person is of legal age which is 18 in some
countries and 21 in others.
In The Netherlands the king died somewhere late 1800's and his daughter was
only 10 years old and could not become queen until she was 18 or 21 years
old. So her mother was caretaker/supervisor* for the "Princesse Royal".
Remember the daughter of Christina Onassis? She inherited millions and
millions when she was a kid. Her father got (limited) money out of the
estate to support her until she became 18 years old and could take control
herself.
* I do not know the correct word for this.
It means that the person taking care of the minor has (limited) authority
over the money/goods.
Although it's been stated in several books the house was built in 1965,
according to the sales drive (http://tinyurl.com/m3223) the house was built
in 1946. Anyway, Elvis had nothing to do with the building of the house. It
wan not until April of 1970 that Elvis bought the house. He did however
remodel the house some and added the swimming pool.
--
T.
I think the legal word you're looking for Luuk is called a 'trustee' or
'executer' of the estate.
However I was wondering, what gives this person/persons the right to
sell an asset that was left to a child?
That is a bad loophole. I have no doubt that Cilla was behind this
action aided by a weak willed Vernon.
Blair
Well, perhaps the costs for maintenance of the house were high and the
trustee decided it would be better to sell.
Remember that "Graceland" only was opened as a museum because the costs of
maintenance were quite high.
It is dated but then again many of the old houses in Palm Springs are.
Marty
Elvis didn't build that house and he didn't live there in 1965.
Marty
>
For sure - I can see Priscilla wanting to get rid of El's Wolf Den ASAP!
Blair,
Graceland did not always have the cash flow it has today, you know. The
first years after Elvis' death, and until it was opened to the public,
Graceland was nothing but a huge item of expenditure. If Priscilla did sell
the Chino house, and "was behind this action", as you call it, I fully
understand it and can't see anything wrong with it all. I don't know for
sure when the house was sold, but according to various books it was sold in
1979. If this is true, the only thing that makes me wonder is that it wasn't
sold before. It's not easy to explain it all with just a few lines, and I'm
far from being an "expert" on the subject, but I'll try.
First, Priscilla had nothing to do with the estate before Vernon died.
Vernon was the executer and in charge of Elvis' estate and was, within
limits stated by the law, free to do as he felt necessary to best preserve
the estate. For doing this job a Memphis court ruled that Vernon was to
receive $28.000. He was also to receive $1.400 a week, the same salary he
reportedly got when Elvis was alive. Everything Vernon did was overseen by
some judicial authority. And likewise, everything Priscilla do (or did) was
also overseen by the same judicial authority. (I don't know how things are
nowadays after CKX got involved and all).
Elvis' will allowed Vernon to choose his own successor(s), and he did
personal choose Priscilla, and Joseph Hanks (the accountant), and the
National Bank of Commerce. If Vernon had not appointed any successor(s), the
latter would have been the sole successor according to Elvis' will. As far
as I understand Priscilla was very eager to be appointed executor, and
probably worked Vernon some to make this happen. This is of course
understandable. She wanted to be able to look after her daughter's interest.
And her own interest as well for that matter.
The estate was almost bankrupt at the time of Elvis' death and the cost of
maintaining Graceland alone was reportedly around half a million dollars.
This much because of the extended security needed at Graceland after Elvis'
body was moved from the cemetery and to the grounds. Also, early 1978, the
National Bank of Commerce (the same bank that would become one of the
successors after Vernon's death) sued the estate for the payment of three
loans totaling $1.4 million. Then the IRS increased the value of Graceland
from $5 million to $22.5 million, and three years later in 1981, did a
second appraisal where it was determined the estate owed an additional $10
million in inheritance taxes. And this is just parts of the expenses the
estate had to deal with.
The first year or so after Elvis' death the estate's income wasn't that bad
because of the enormous demand for Elvis records following his death. But
remember, because of the infamous sale of Elvis' entire back cataloge to RCA
in 1973, only the royalties made from recordings made after March 1st 1973
made its way to the estate. That is, what was left of it after the Col. had
taken his redoubtable share of the cake. The CBS special "Elvis in Concert"
also provided some income, but the estate's share was no more than $750.000.
Vernon obviously needed money to keep Graceland, and one of the first thing
he sold was his own house and moved back into Graceland. Next, he sold the
"Hound Dog 2" jet, and then (in May 1978) the "Lisa Marie" jet. (This is the
same jet's that Priscilla later bought back, now on display at Graceland (on
the grounds Elvis purchased as late as sometime in 1976 as far as I can
remember). It's my guess that it was Vernon who sold the Chino house as
well, and not Priscilla, but I don't know for sure. But I just can not see
any reason for him to try keep this house more than his own house.
When Vernon died the financial situation was no good, and it was up to
Priscilla to save her daughters inheritance. If I remember correctly the
city of Memphis tried to buy Graceland twice, but Priscilla turned down the
offers. The highest offer, made in 1981, was $12 million I believe. But the
estate needed money, and the first thing she planned was to sue Elvis'
former entourage for money Elvis had given them through the years. Marty was
the first one on the list (sort of a test case as far as I understand), and
we all know how that went. Priscilla and the estate found out that you don't
play games with Marty, and quickly dropped the suit. This unsuccessful
attempt to sue Marty probably saved a lot of the other members of the
Memphis Mafia and others to get sued as well. (Perhaps you'd like to comment
and/or add something here, Marty?)
Anyway, after that inferior and immoral attempt to raise money failed,
Priscilla found out that Graceland had to be opened to the
public if it was to be saved for her daughter to inherit. In short, she
hired Jack Soden, took $500.000 in cash plus $60.000 in advanced ticket sale
to make the arrangements, and opened the gates in June 1982. A stiff month
later the $560.000 investment was returned, and the cash flow still
continues...
As I see it, Priscilla did not do anything wrong as Vernon's successor
before she got the idea to sue Elvis' buddies. She's done other stuff as
well, later on, that she should never have done IMO. But she's also done
things I agree with. Sometimes I feel like most Elvis-fans gets worked up no
matter what Priscilla do or says without giving it some thought. Like the
CKX deal for example. I got the impression that most fans almost wanted to
lynch Priscilla for agree to such a deal, and Lisa wasn't that much better
either in many fans' eyes. I couldn't see anything wrong with it then, and I
don't see anything wrong with it now. Rather the contrary. When it happened
I also stated so here on aek but I can't remember many supporting my
utterance on this matter.
Anyway, my point is that something does not necessarily have to be negative
just because Priscilla is involved. I'm not what can be called a fan of
Priscilla myself, but that does not mean that I think that everything she
does or say is wrong. Of course, many times it is, and I have no problem to
run down Priscilla on certain issues, but never without any basis to do so.
Priscilla is a buisiness woman. Some might say a cold blooded buisiness
woman, and I'll agree to that in some, perhaps most, ways.
In closing, whoever sold the Chino house was in their full rights to do so,
and also, they did the right thing IMO. And I'm sure if you allow yourself
to think rational about this you will agree with me.
Note: Most of the sums cited above was found in "Elvis Inc" by Sean O'Neal.
Great book BTW!
--
T.
Very interesting read Mr T..thanks
I have a friend who likes to research
real estate among other things, if I
get an answer about who actually sold
the Chino house I'll let you know.
"Elvis Inc" was/is a very good book, it's
been quite awhile since I've read it and your
post has renewed my interest to read it again.
T,
You said it all well. A couple of letters had been sent to other guys but
they waited to see what would happent to me. That is one of the things that
Elvis would have slapped the shit out of her for doing.
The rest of your message is good but I remind you that there was and
advisory Board made up of people from the bank and business leaders who
basically came up with the idea of saving Graceland and they were
responsible for the majority of the success not Priscilla. She had only one
business experience before she caught Vernon on his death bed to make her
one of the Executors and that was her failed boutique in L.A..
Plus, like I've always said, Scatter could have opened Graceland and made a
lot of money.
Marty
Thanks for your input, Marty. You're probably right, my only defence is that
Priscilla was/is the leader of the pack, and also the name we have learned
to associate with EPE, so its easy to credit Priscilla alone on decisions
made by the organization.
--
T.
Thanks Dawn,
Yes it would be interesting to know exact when the house was sold.
--
T.
Didn't you read my post?
> Elvis would have been angry no less if Cilla got her hands on any more
> money.
He told you that?
--
T.
Marty, I noticed you called Palm Springs a town. Is it? I have noticed the
term 'town' being mentioned elsewhere as well every now and then on places I
think more of as districts or suburbs. Could you, or someone else for that
matter, please fill me in when the term 'town' is adequate when describing
an (outside) part of a city. I always thought Palm Springs was somehow
connected to LA. As you know I'm not in the US. Thank you.
--
T.
Thanks Rick,
But as I see it everything is quite the drive from LA. Even LA itself.
Downtown LA is a harbour combined with an industrial area, if nothing at
all. If it was not for all the built-up areas surronding LA, then I doupt
that even LA itself deserved the title 'town'. So I have to ask, If
everything surroundig LA is city's all it's own, then what the hell is LA?
--
T.
Town is just another word used for city. No it is not part of L.A. it is
about two hours away and is in a mountainous area. Just above PS is Idywyld
where we filmed Kid Galahad. That was in the mountains.
Marty
>
>
Thank you Marty.
--
T.
Palm Springs is a real retreat from the madness that is LA. It has a very
small town feel to it,. They have their own walk of fame there, and it's a
really nice place to visit. I've been there many times.
Just for the record, here in Las Vegas it's just as bad. Everyone thinks
they live in Las Vegas, but in the valley we have Henderson, Green Valley,
Spring Valley, Mt Charleston, Bonnie Springs, North Las Vegas, Las Vegas,
the "Welcome to the Las Vegas outlet mall" by stateline NV 45 miles from the
real Las Vegas, but they think they are a part of Las Vegas too.
It's madness I tell you...madness..
"Mr. T" <not@valid> wrote in message
news:FImdnahMB7g...@telenor.com...
Thank you Rick, I like the way you describe things. Very understandable and
illustrating. Hope to see you post agian.
--
T.
With all this in mind, I have to say that I find LA to be my favorite
city in the world!
Don't ask me why, but there is just something about it that fascinates
me.
People all around the world and especially in the US call it a sinkhole
of a place, the Eastern Americans are very passionate with thier
dislike for it. They of course loved to tell me, and show me, how thier
gray and decaying cities were so much superior!
As Australians, LA is very significant because it is the first port of
call when flying to America. It's our big introduction and the sheer
scale of the place is fitting to what we are expecting...big, bright,
dazzling, crazy, friendly, alienating, scary, safe and always on the
edge. Many Aussies stay a few days and then leave but I always stay a
while longer and discover more.
A highlight of my life was hiring a car and driving to and from Vegas
from LA.
What made me laugh was how I changed the radio station in my car from
"The two fat Mexicans hip-hop show" to the country music stations as
soon as I began to push out of San Bernardino! I thought country music
was great...for those few hours or so!
And LV? Wow!...but I wasn't there for the gambling, just the
sights...three days was enough then it was on to Arizona...
Blair