Elvis Presley's granddaughter, Riley Keough, is actively battling the “fraudulent” sale of her grandfather's iconic Memphis property amid the looming possibility of foreclosure. According to Page Six, Keough's mother, Lisa Marie Presley, allegedly used Graceland as collateral and failed to repay a $3.8 million loan taken out five years before her death in January 2023.

As a result, the beloved residence faces auction to the highest bidder. In an effort to preserve and protect her grandfather's estate (of which she is the sole trustee) from being sold to a stranger, Keough obtained a "temporary restraining order" mere days before the auction that put a hold on the supposed fraudulent sale.

The current possibility of foreclosure (initially slated for Thursday, May 23) can be traced back to "a deed of trust with Naussany Investments and Private Lending, LLC" signed by Lisa Marie in 2018. The document in question reportedly promised Graceland to the lender in the event that Lisa Marie failed to pay the loan.

Keough claims that all of the documents are fake and that her mother never took out a loan in the first place. Page Six obtained information from the May 15th lawsuit filed by Keough that states:

“Lisa Marie Presley never borrowed money from Naussany Investments and never gave a deed of trust to Naussany Investments. These documents are fraudulent.”

The 34-year-old "Daisy Jones & The Six" actress also drew attention to deed notary Kimberly Philbrick whom she believes “never met Lisa Marie Presley nor notarized any documents for her.” Keough maintains the opinion that the documents in possession of the Shelby County Register’s Office are forged and is doing everything she can to prove this to the court.

Page Six noted that there is much more at stake than a house and some land as Elvis, his parents Vernon and Gladys Presley, daughter Lisa Marie, and his grandson Benjamin Keough are all buried on site. Priscilla Presley also requested that she be buried next to The King at Graceland upon her death.

The world-renowned estate sees over 600,000 Elvis enthusiasts each year, per Graceland's official website.

An injunction hearing is set for Wednesday (May 21) where a decision regarding the sale of Elvis Presley's storied Memphis home will be made.

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