Riley Keough continues to preserve the legacy of her famous grandfather. The granddaughter of Elvis Presley scored a major legal win over the proposed auction of his legendary Graceland Estate. The property was going to be sold off due to a defaulted loan payment. However, the young actress stepped in at the eleventh hour to fight the bid. Keough became the heir of the estate after her mom, Lisa Marie Presley‘s sudden death in January 2023.
Riley Keough can rest easy after a judge halted the sale of Graceland Estate. It was slated for a foreclosure auction on Thursday, May 23. A hearing took place at the Shelby County Chancery Court in Memphis, Tennessee, where Chancellor JoeDae L. Jenkins paused the sale of the famous property and delayed the trial. “The estate is considered unique under Tennessee law, and in being unique, the loss of the real estate will be considered irreparable harm,” Jenkins said at the hearing, per People Magazine.
The victorious ruling came just two days after Keough filed a complaint against the Missouri-based company Naussany Investments LLC. The investment firm alleged that Keough’s mom, Lisa Marie, signed a Deed of Trust in 2018 to secure a $3.8 million loan from them, using Graceland as collateral. Unfortunately, she couldn’t pay back before her death, giving them ownership of the estate. However, the Daisy Jones & The Six actress slammed the allegations as false in her lawsuit.
“These documents are fraudulent,” her filing read. Keough further alleged that Naussany, which she doesn’t believe is a “real company,” forged her mother’s signatures on the deed. Also included in the lawsuit was an affidavit from the notary whose name appeared on the documents. She denied ever meeting Lisa Marie and notarizing anything for her.
In addition, Keough, in her lawsuit, requested a restraining order against the investment company.
All Claims On Graceland Estate Dropped After Judge’s Ruling
Hours after the judge blocked the sale of Graceland, Naussany Investments announced they were dropping all claims to the property. The Associated Press reports that the investment firm backed down because “a key document in the case and the loan were recorded and obtained in a different state.” This means they would have to file legal action in multiple states.
In addition, a judge then denied an appeal motion filed by the company denying the accusations in Keough’s lawsuit and opposing the Graceland estate’s request for an injunction.
