Court Halts Foreclosure Auction of Elvis Presley's Graceland Following Legal Battle Involving Riley Keough

Judge Orders Pause on Foreclosure Sale of Elvis Presleys Graceland Amid Riley Keoughs Lawsuit

Elvis Presley strolls the grounds of his Graceland estate in circa 1957. Michael Ochs Archives/Getty Images

A Memphis judge has temporarily stopped the foreclosure sale of Elvis Presley's Graceland mansion. Chancellor JoeDae Jenkins made the ruling on Wednesday, May 22, stating that the auction of the property in Shelby County should be paused. The judge determined that the necessary paperwork had not been provided to local officials for the sale to move forward.

An auction of the property was scheduled for Thursday, May 23.

Graceland was bought by Presley in 1957, a year after his music career took off. He lived in the mansion with his then-wife Priscilla Presley and their daughter, Lisa Marie Presley. When Elvis passed away in 1977 at the age of 42, ownership of Graceland was transferred to Lisa Marie. After Lisa Marie's death at the age of 53 in January 2023, her daughters were given control of the estate. (Lisa Marie had four children - Riley Keough, 34, and the late Benjamin Keough with ex-husband Danny Keough, as well as 15-year-old twins Harper and Finley Lockwood with ex-husband Michael Lockwood.)

Riley recently took legal action against the company that wanted to auction Graceland. The company said the Promenade Trust, in charge of the famous mansion, owed $3.8 million to Naussany Investments and Private Lending for not repaying a loan from 6 years ago. Riley claimed that the documents from Naussany about Lisa Marie's loan were fake.

Judge Orders Pause on Foreclosure Sale of Elvis Presleys Graceland Amid Riley Keoughs Lawsuit

Riley Keough made a statement regarding Lisa Marie Presley and Naussany Investments. She stated that Lisa Marie never borrowed money from Naussany Investments and never gave a deed of trust to them.

Riley was able to delay Thursday's auction by obtaining a temporary restraining order on Monday, May 20. This order was granted before Wednesday's injunction hearing.

As the sole trustee of Graceland, Riley also oversees sub-trusts set up for her younger twin sisters. Her appointment was specified in Lisa Marie's will from January 2023, a decision initially contested by Priscilla, who is 78 years old. Priscilla, Riley's maternal grandmother, had claimed that a 2016 legal amendment naming Riley and her brother as estate trustees for Lisa Marie was forged. In May 2023, Riley and Priscilla reached a settlement, with Riley receiving a one-time lump sum of $1 million from the account.

Riley and Priscilla have found peace in their relationship after the stressful situation involving Lisa Marie’s trust and estate. A source shared exclusively with Us magazine that there was some back and forth, but they were able to reach a compromise that satisfies them both.

Priscilla has expressed her admiration for Riley taking charge of managing the estate.

"I think Riley will do amazing," Priscilla shared on Piers Morgan Uncensored in November 2023. "She has been asking me for some advice, especially about Graceland. I want to support her with that. She is also focused on her own successful career."

Editor's P/S:

The recent legal battle surrounding Elvis Presley's iconic Graceland estate highlights the complexities of estate planning and the importance of proper documentation. The allegations of forged documents and unpaid debts cast a shadow over the legacy of the King of Rock and Roll, leaving his family and fans alike grappling with questions about the future of this treasured landmark.

Riley Keough's legal challenge raises concerns about the validity of the loan agreement and the authenticity of the paperwork used to justify the foreclosure sale. If true, these allegations could have serious consequences for the integrity of the estate and the financial security of Lisa Marie Presley's daughters. The judge's decision to halt the auction temporarily provides an opportunity for further investigation and resolution of these issues, ensuring that Graceland remains a symbol of Elvis Presley's legacy for generations to come.