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Earlier in May, a public notice was posted announcing a foreclosure sale of the 13-acre estate. The notice claimed that Promenade Trust, which manages the Graceland Museum, owed $3.8 million for a loan taken out in 2018. Keough inherited the trust and ownership of Graceland followingThe company behind the foreclosure notice claimed that Lisa Marie borrowed $3.8 million and gave them a deed of trust encumbering Graceland as security before she died, failing to repay the loan.
In a statement released to ET on Tuesday, Elvis Presley Enterprises Inc., which manages Graceland, stated,"There is no foreclosure sale. Simply put, the counter lawsuit has been filed to stop the fraud.", which was scheduled for Thursday. This decision paused the sale of the estate until a hearing could determine the rightful ownership.