A foreclosure sale of Elvis Presley’s Graceland mansion has been halted by a Memphis judge, with Chancellor JoeDae Jenkins ruling that local officials did not have the proper paperwork to proceed. The auction of the iconic residence and its surrounding property was scheduled for May 23, but has been paused following the court ruling. A spokesperson for Elvis Presley Enterprises released a statement confirming that there will be no foreclosure on Graceland, and that it will continue to operate as it has for the past 42 years, providing fans with a best-in-class experience when visiting the historic home.
Elvis Presley purchased Graceland in 1957, one year after his music career took off. He lived in the mansion with his then-wife Priscilla Presley and their daughter Lisa Marie Presley, until his death in 1977 at the age of 42. Ownership of Graceland then passed down to Lisa Marie, who died in January 2023 at the age of 53. Her daughters were granted control of the estate, with Riley Keough filing a lawsuit earlier this month against the company attempting to auction off Graceland. The dispute arose from claims that the Promenade Trust, which oversees the mansion, owes $3.8 million to Naussany Investments and Private Lending, with Riley alleging that the loan documents were fraudulent.
Riley obtained a temporary restraining order that delayed the auction, with the TRO granted ahead of an injunction hearing. As the sole trustee of Graceland and presiding over sub-trusts designated to her younger twin sisters, Riley’s appointment was named in Lisa Marie’s will. Priscilla Presley initially contested the will, alleging that a legal amendment naming Riley as a trustee was forged. However, Riley and Priscilla settled the case in May 2023, with Priscilla receiving a one-time lump sum of $1 million from the account. Sources revealed that Riley and Priscilla are now at peace in their relationship after a stressful ordeal over Lisa Marie’s trust and estate.
In an exclusive interview, a source revealed that Riley and Priscilla have reached a middle ground that makes them both happy after the legal battle over Lisa Marie’s estate. Priscilla has expressed confidence in Riley taking over the management of Graceland, stating that she believes Riley will do a great job running the estate. Despite having her own successful career, Riley has sought advice from Priscilla on how to handle the management of Graceland. The family feud over the estate has been settled, and both Riley and Priscilla appear to be on good terms as they move forward with the administration of the iconic property.
