The future of Elvis Presley’s iconic Graceland Estate hangs in the balance as a judge has blocked the sale of the mansion due to the late icon’s estate failing to repay a loan used as collateral. The decision came after Elvis Presley’s granddaughter, actor Riley Keough, filed a lawsuit to halt the foreclosure auction, calling it “fraudulent.”
Shelby County Chancellor JoeDae Jenkins issued a temporary injunction against the proposed auction that was scheduled for May 22. A representative for Graceland stated that the claims against the estate were invalid and that there would be no foreclosure, ensuring that Elvis fans can continue to visit his legendary home.
Riley Keough was named the sole owner and trustee of the family estate after the death of her mother, Lisa Marie Presley, in 2023. The issue arose when a public notice for a foreclosure sale of the 13-acre estate in Memphis was posted, stating that the Promenade Trust owed $3.8 million after failing to repay a 2018 loan.
Elvis Presley purchased the property in 1957 for $102,500 and lived there until his death in 1977. The Graceland estate has since become a museum and a pilgrimage site for fans worldwide. To stop the sale, Riley claimed that her mother’s signatures on the loan documents were forgeries and that the loan never actually existed.
The future of Graceland remains uncertain as legal battles continue to unfold, leaving fans of the King of Rock ‘n’ Roll anxiously awaiting the final outcome.