Elvis Presley's Title Policy Document for His First House on Audubon (1956). In March 1956 Elvis Presley purchased a home for himself and his parents, Vernon and Gladys, at 1034 Audubon Drive, in an upscale suburban neighborhood east of downtown Memphis. On March 3rd, he placed a $500 deposit down before going on tour and his parents moved in on March 20th. The funds he used to pay cash for this home came from royalties for "Heartbreak Hotel," his first RCA Victor single. The family would live there almost exactly one year before needs for privacy prompted him to buy Graceland. This present insurance policy, 8.5" x 24", from the Commerce Title Company of Memphis is the original document given to Elvis and his parents, dated March 12, 1956, guaranteeing that the home is insured for loss up to $29,500. Included with it are two Letters of Authenticity from previous owners attesting to the fact that this is the original 1956 policy document. One is from Jimmy Velvet at the Elvis Presley Museum in Memphis, the other from Chris Davidson at the Elvis-A-Rama Museum in Las Vegas. Typed-in information a bit light, otherwise very fine condition. COA from Rich Consola.