Your anticipation will rise as you stand at the doorstep of Graceland Mansion. How exciting! But why was the Presley residence called Graceland? Did the name have a religious connotation? No. The land was originally owned by Stephen Toof, a successful commercial printer. He willed the 13.8 acre farm to his unmarried daughter, Grace Toof. Eleven years after she died in 1928, her niece Ruth Moore and husband Thomas built this 10,266 square foot Colonial Revival home. Ruth named the mansion Graceland in honor of her aunt. Elvis bought the property in 1957 (at the age of 22) for just over $100,000 and lived here for twenty years. Graceland is now owned by Lisa Marie Presley, the only daughter of Elvis and Priscilla Presley. It became a museum in 1982 and has been designated as a National Historic Landmark plus listed in the National Register of Historic Places.