Graceland Lawsuit Dropped After Judge Blocked Foreclosure Sale and Sided With Riley Keough

Riley Keough's fight to save her grandfather Elvis Presley's estate, Graceland, from a foreclosure sale has ended in a resounding victory. The company Keough filed a lawsuit against, accusing them of trying to defraud her family into selling Graceland, has dropped all claims on the property, ET can confirm.

"We can confirm the Trust attorney stated that he received an email from [the company] saying they will not be moving forward with their claim," a rep for Graceland said in a statement to ET.

Earlier in May, a public notice was posted announcing a foreclosure sale of the 13-acre estate. The notice claimed that Promenade Trust, which manages the Graceland Museum, owed $3.8 million for a loan taken out in 2018. Keough inherited the trust and ownership of Graceland following the death of her mother, Lisa Marie Presley, last year.

Visitors queue to enter the Graceland mansion of Elvis Presley in Memphis, Tennessee.

The Graceland mansion of Elvis Presley in Memphis, Tennessee.

MANDEL NGAN/AFP via Getty Images

The company behind the foreclosure notice claimed that Lisa Marie borrowed $3.8 million and gave them a deed of trust encumbering Graceland as security before she died, failing to repay the loan. However, Keough, representing the Promenade Trust, filed a lawsuit on May 20, alleging that the company had presented fraudulent documents concerning the loan and the unpaid sum as recently as September 2023.

Keough asked the court to grant a restraining order against them ahead of the reportedly non-judicial sale of Graceland.

In a statement released to ET on Tuesday, Elvis Presley Enterprises Inc., which manages Graceland, stated, "There is no foreclosure sale. Simply put, the counter lawsuit has been filed to stop the fraud."

On Wednesday, a Tennessee judge granted a temporary injunction against the auction, which was scheduled for Thursday. This decision paused the sale of the estate until a hearing could determine the rightful ownership.

Elvis Presley Enterprises, responded to Wednesday's court ruling, saying, "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."

Keough is known for following in her famous grandfather’s footsteps -- but on her own terms. In February 2023, the 34-year-old Daisy Jones & The Six actress sat down with ET to discuss her highly anticipated Prime Video series, during which she reflected on continuing her family's musical legacy.

"I certainly wouldn't put that pressure on it. I don't know if there is continuing my grandfather's legacy, it’s its own sort of thing to me. But it was a really fun experience for me," Riley said of making the show. "I'm not a musician -- or I am now I guess. I've been interested in film my whole life and so for me, it was more really loving to get to have a relationship with music in that way."

"I've listened to music and my whole family are musicians and I've been around this world a lot and been on tour and all that kind of stuff," she continued. "But I'd never really done it myself. So for me, it was more about my personal relationship with getting to play music, which was fun."


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