MEMPHIS, Tenn. (NewsNation) — A Tennessee judge agreed Wednesday to delay an auction of Graceland, the historic home of Elvis Presley, as Presley’s estate fights to prove the foreclosure proceedings are fraudulent.

“The court will adjourn the sale as requested because the real estate is considered unique under Tennessee law and, being unique, the loss of the real estate would cause (significant) harm,” Chancellor Joe Dae Jenkins said. 

Wednesday’s hearing came after a temporary restraining order was granted Monday to stop the auction, according to an attorney for heir Riley Keough, Elvis Presley’s granddaughter.

A notice published this month stated Graceland and the surrounding acreage on Elvis Presley Boulevard in Memphis, Tennessee, was set to be sold off for cash at a foreclosure auction Thursday.

The Shelby County Register of Deeds said the office has no record on file of a deed related to Graceland, NewsNation affiliate WREG reported.

Naussany Investments, the company that threatened to sell Graceland, told NewsNation Wednesday that it won’t move forward with any claims; however, they allege Lisa Marie Presley didn’t repay a loan.

“Due to the Deed of Trust not being recorded and the loan being obtained in a different state, legal action would have to be filed in multiple states and NAUSSANY Investments & Private Lending will not acquire to proceed. That comes from consultation of the lawyers for the company. There was no harm meant on Ms. Keough for her mother’s LMP mishabits and mismanaging of money. The company will be withdrawing all claims with prejudice.”

The Memphis Police Department told NewsNation they wouldn’t initiate a fraud investigation because “At this time this is a civil matter. There haven’t been any reports filed.”

Graceland allegedly used as collateral on a loan

The legal notice claims Lisa Marie Presley signed a deed of trust in 2018, securing a $3.8 million loan with a Missouri company called Naussany Investments and Private Lending, using Graceland as collateral. The company alleges she never paid the money back before she died.

However, Keough, Lisa Marie Presley’s daughter, said in a 60-page lawsuit filed against Naussany Investments on May 15 that her mother never borrowed any money from the company.

Keough claims Lisa Marie Presley’s signatures on the deed are forgeries, and that Naussany Investments is not a real entity. According to the suit, the notary involved in the deed denies that she notarized Lisa Marie Presley’s signature or ever met her.

NewsNation hasn’t been able to contact anyone representing Naussany Investments, and the company’s lawyers are not listed in court records.

A number listed for Naussany was not in service, WREG reported.

600K visitors tour Graceland yearly

Elvis Presley bought the Graceland mansion in the Whitehaven area of Memphis in 1957. Lisa Marie Presley inherited Graceland after her father died in 1977, and it opened to the public as a museum in 1982.

Lisa Marie Presley died in January 2023. Keough became heir to the estate and trustee of the Promenade Trust.

About 600,000 visitors tour Graceland each year. The house was named in a survey last year as the most popular museum in the U.S.

NewsNation affiliate WREG contributed to this report.