Elvis Presley’s Historic Graceland Auction Halted Amid Foreclosure, Granddaughter Riley Keough ‘Traumatized’
The late Elvis Presley's iconic Graceland mansion was on the verge of being sold at an upcoming foreclosure auction Thursday; however a judge recenly ruled to block the process, per reports.
The "King of Rock and Roll's" granddaughter — who is the current owner of the property — is boldly fighting the sale sparking a fierce legal battle.
Riley Keough not only called the auction a sham, but maintains that the pending sale of her property is "fraudulent," per The New York Post. Her attorney was able to secure a temporary restraining order Monday.
WREG-TV News reported that Shelby County Courthouse ruled that Graceland mansion, including its surrounding property located in Memphis, Tennessee, was set to be auctioned off to the highest bidder for cash on May 23.
A source close to The Post claimed Keough, 34, is "traumatized" at what has unfolded and "never thought that a historic piece of property could even be considered to go into the hands of any random stranger."
The "traumatizing" scenario ensued after Riley's late mother, Lisa Marie Presley, reportedly signed a $3.8 million dollar loan with Graceland as collateral. Now, a company claimed the estate failed to repay. Per the news outlet, an injunction hearing is set for Wednesday.
In a recent update, a Tennessee judge has stepped in to block the process of the auction following Keough's accusations of fraud. A Graceland representative told The Independent that the foreclosure has officially been halted at this time.
"As the court has now made clear, there was no validity to the claims. There will be no foreclosure," they detailed. "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."
The news outlet reported that a public notice stated that Promenade Trust, in control of the Graceland Museum, owes $3.8 million after failing to repay a 2018 loan. The late 'Can't Help Falling In Love' pop icon originally purchased the property in 1957 and resided in the mansion until his death in 1977.
The heartthrob rockstar is regarded as one of the most significant cultural figures of the 20th century. Per Graceland, it is estimated that more than one billion Elvis records have been sold worldwide, more than anyone in the industry's history.
