Riley Keough 'appreciative' of swift legal action to halt Graceland's foreclosure sale

Riley Keough is thankful for the swift legal actions surrounding her grandfather Elvis Presley’s iconic Graceland estate.

A source spilled to the PEOPLE, "Riley is appreciative of the swift legal actions that stopped the foreclosure sale."

"She was initially pretty shocked and confused, but everything is all good for now. She'll do anything to protect Graceland," shared an insider.

The outlet previously obtained obtained a 60-page lawsuit filed by Riley's attorneys on May 20, requesting courts to restrict an allegedly "fraudulent" attempt to sell the estate, ​​which was set for a foreclosure auction on May 23.

Riley claimed that Naussany Investments & Private Lending LLC attempted to defraud her family into selling Graceland by forging the signature of her late mother, Lisa Marie Presley, the only daughter of Elvis and Priscilla Presley.

On May 22, a judge reportedly halted the sale, saying that under state law, any sale or "loss" of the estate "will be considered irreparable harm".

After the court decision, Graceland and Elvis Presley Enterprises issued a statement to PEOPLE, writing, "As the court has now made clear, there was no validity to the claims."

"There will be no foreclosure," it read.

The statement added, "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."