Riley Keough – herself a well-known actress – is suing Naussany Investments, which claims that the mansion was used as collateral on a $3.8 million loan taken by Lisa Marie Presley and never repaid.

The lawsuit alleges that the loan documents are “fraudulent” and that Presley “never borrowed money from Naussany Investments and never gave a deed of trust to Naussany Investments”, CNN reports.

The surprise auction was scheduled to go ahead tomorrow, Thursday 23 May.

Graceland was for many years described as the second-most visited home in the US after the White House, with more than 600,000 visitors per year.