Elvis Presley’s granddaughter Riley Keough is the sole owner of the Graceland Estate. She filed a suit to stop the sale of the mansion.
Elvis Presley’s mansion, the Graceland Estate sale has been blocked as a judge ruled that the late icon’s estate failed to repay a loan that they used as a collateral.
The decision comes after Elvis Presley’s granddaughter, actor Riley Keough filed a lawsuit to halt the sale and called the foreclosure auction of the historic building “fraudulent”.
Shelby County Chancellor JoeDae Jenkins issued a temporary injunction against the proposed auction that had been scheduled for May 22.
A representative for Graceland told The Independent: “As the court has now made clear, there was no validity to the claims. There will be no foreclosure. Graceland will continue to operate as it has for the past 42 years, ensuring that Elvis fans from around the world can continue to have a best in class experience when visiting his iconic home.”
Elvis Presley’s granddaughter Riley Keough was named the sole owner and trustee of the family estate after the death of her mother, Lisa Marie Presley in 2023.
Earlier this month a public notice for a foreclosure sale of the 13-acre estate in Memphis was posted. It said that the Promenade Trust, which controls the Graceland museum, owes $3.8m (£2.9m) after failing to repay a 2018 loan.
According to the legal notice, Lisa Marie allegedly signed a Deed of Trust in 2018 to secure the loan through a Missouri company called Naussany Investments and Private Lending, using Graceland as collateral.
The icon Elvis Presley purchased the property for £102,500 in 1957. At the time, Elvis had just released hit songs like “All Shook Up” and “Blue Christmas”. He lived there until his death in 1977.
To stop the sale, Riley claimed that her mother’s signatures on the documents are forgeries, that the loan never transpired, that Naussany Investments is not a real company, and that the loan’s notary public did not notarise it.
The Graceland estate was inherited by Lisa Marie upon the rock icon’s death and was opened to the public as a museum in 1982. It is one of the most visited places by Elvis Presley’s fans worldwide.
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