Elvis Presley's historic house Graceland set to be sold off at a foreclosure auction this week - as his granddaughter Riley Keough challenges 'fraudulent' sale

Graceland, the former home and burial site of the legendary Elvis Presley, is set to be sold off at a foreclosure auction this Thursday. 

According to a legal notice published this month, Graceland and surrounding land on Elvis Presley Boulevard will be auctioned off for cash to the highest bidder at Shelby County Courthouse on May 23, as per WREG-TV News. 

Elvis' granddaughter, actress Riley Keough, 34, who is the current owner of Graceland, is challenging the sale with a lawsuit, claiming it is 'fraudulent.'

A temporary restraining order on the sale was issued on Monday, as per Keough's attorney, and an injunction hearing is set for Wednesday. 

According to the legal notice Riley's mother, and Elvis' only child, the late Lisa Marie Presley, allegedly signed a Deed of Trust in 2018 in order to secure a $3.8 million loan, using Graceland as collateral.

Graceland, the former home and burial site of the legendary Elvis Presley, is set to be sold off at a foreclosure auction this Thursday; Elvis seen at Graceland circa 1957

Elvis' granddaughter, actress Riley Keough, 34, is challenging the sale with a lawsuit, claiming it is 'fraudulent'; Riley seen April 15, 2024 in Los Angeles

The alleged loan was taken through a Missouri company called Naussany Investments and Private Lending.

Now, the company is claiming Lisa Marie did not pay back the money prior to her death at 54 last year. 

But Riley's lawsuit, filed May 15 in Shelby County Chancery Court, claims that her mother did not borrow money from the company.

'These documents are fraudulent,' states the lawsuit.

Keough alleges that her mother's signatures on the deed are forgeries. The lawsuit also claims that Naussany Investments is not even a real company.

The notary listed on the documents has denied that she notarized Lisa Marie's signature or ever met her, as per the documents.

The King of Rock and Roll bought the Graceland estate in 1957 for $102,500, the same year he recorded a slew of iconic hits including 'Blue Christmas' and 'All Shook Up.'

Lisa Marie inherited the estate after her father's death in 1977. It was later opened to the public as a museum in 1982. When Lisa Marie died in January 2023, her daughter became heir to the estate.

The Graceland estate is an iconic symbol of arguably the greatest pop culture figure of all time.

Located in Memphis, Tennessee, the 13.8-acre property attracts hundreds of thousands of visitors every year, as people remember one of America's most impactful musicians.

According to a legal notice, Graceland and surrounding land on Elvis Presley Boulevard will be auctioned off for cash to the highest bidder on May 23, as per WREG-TV News 

Elvis' only child, the late Lisa Marie Presley, allegedly signed a Deed of Trust in 2018 in order to secure a $3.8M loan that she did not pay back, using Graceland as collateral; Lisa Marie seen January 10, 2023, two days before her death

Riley's lawsuit claims her mother did not borrow money from the company, and that her signatures on the deed are forgeries; (L-R) Lisa, Priscilla Presley, and Riley seen in 2022

A temporary restraining order on the sale was issued on Monday, as per Keough's attorney, and an injunction hearing is set for Wednesday

The property was constructed in 1939 by Ruth Brown Moore and her husband Dr. Thomas D. Moore, who named the property 'Graceland' after Ruth's aunt Grace Toof, the original owner of the land.

Graceland is known as a zany, folksy look into Elvis' lifestyle, including the notable 'Jungle Room' filled with greenery and family heirlooms, which was initially used as a practical joke by Elvis, who purchased many items of furniture in an attempt to annoy his father.

According to a video on the Graceland website, every item of furniture in the home is an original piece of furniture that was purchased during Elvis' time there.

Today, the property at 3763 Elvis Presley Blvd stands as one of America's most famous musical landmarks, which was acknowledged in 1991 when it was added to the American National register of Historic Places.

It features a museum that houses some of the most notable artifacts from his career, including a 40ft high wall that contains every single of the awards he was given after his death.

Riley's settlement over the ownership of the Graceland mansion was approved by a judge ten months after her mother Lisa Marie's death in January 2023.

She was named the sole trustee of the family estate after a legal battle with her grandmother Priscilla Presley, 78. 

Their disagreement centered around a 2016 amendment to Lisa Marie's will that excised Priscilla as trustee of the estate.

Attorneys for Priscilla said she only became aware of the amendment after the death of her daughter.

The King of Rock and Roll bought the Graceland estate in 1957 for $102,500, the same year he recorded a slew of iconic hits including 'Blue Christmas' and 'All Shook Up'; seen in 1956

As the former home and burial site of the legendary Elvis, the Graceland estate is an iconic symbol of arguably the greatest pop culture figure of all time

Located in Memphis, Tennessee, the 13.8-acre property attracts hundreds of thousands of visitors every year, as people remember one of America's most impactful musicians

Fans seen visiting the grave of Lisa Marie and Graceland meditation pool during her memorial on January 22, 2023

The amendment removed Priscilla and Lisa Marie's former business manager Barry Siegel, and replaced them with Lisa Marie's children Riley and Benjamin Keough.

Benjamin died in 2020, at age 27, after shooting himself dead in the family's mansion, with sources revealing he had been struggling at the time.

Lisa Marie died in January 2023, at the age of 54, after suffering a cardiac arrest at her home in Calabasas, California.

It was later found that she died from a 'small bowel obstruction' caused by a bariatric surgery that she had undergone according to the autopsy.

Last year Priscilla confirmed it is her wish to be buried next to her late ex-husband Elvis on his Graceland estate when she dies. 

Elvis, Lisa Marie and her son Benjamin are all buried at Graceland.