A judge today halted the foreclosure of Graceland, Elvis Presley’s former home in Memphis, Tennessee, citing concerns that Presley’s estate may be able to prove fraud against an investment company.

According to the Associated Press, the ruling came shortly before the company that brought the foreclosure on Graceland issued a statement withdrawing its lawsuit.

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Shelby County Clerk JoeDae Jenkins today issued a temporary restraining order against the foreclosure auction scheduled for Thursday in Memphis, reinforcing an earlier restraining order issued at the request of Presley’s granddaughter, actress Riley Keough.

A public notice for a foreclosure auction of the 13-acre estate released in early May said the Promenade Trust, which controls the Graceland museum, owes $3.8 million because it failed to repay a 2018 loan. Keough inherited the trust and ownership of the home after the death of her mother, Lisa Marie Presley, last year.

Later Wednesday, the Associated Press reported that a person who appeared to be a representative of the company seeking foreclosure said the company would drop its claim, which Presley’s estate argues is based on forged documents.

Naussany Investments and Private Lending claimed Lisa Marie Presley used Graceland as collateral for a loan, the notice of the foreclosure sale said. In a lawsuit filed last week by Keough, Naussany claimed she submitted falsified documents related to the loan in September 2023.

“Lisa Maria Presley never borrowed money from Naussany Investments and never delivered a trust deed to Naussany Investments,” Keough’s attorney wrote in a lawsuit.

In an emailed statement to the Associated Press after Wednesday’s ruling, Naussany said he would not proceed with the case because a key document in the case and the loan were registered and obtained in another state, meaning “suits would have to be filed in multiple states.”

“The company will withdraw all claims without reservation,” the statement said.

Graceland opened as a museum and tourist attraction in 1982 after Elvis Presley died in August 1977 at the age of 42.

“Graceland will continue to operate as it has for the past 42 years, ensuring that Elvis fans from around the world continue to have the best experience when visiting his famous home,” Elvis Presley Enterprises said in a statement.

The Associated Press contributed to this report.

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