Lisa Marie Presley's daughter opposes the auction of Graceland, the iconic property of the legendary Elvis Presley

Elvis Presley's niece, actress Riley Keough, is trying to prevent the sale of Graceland, the late singer's home in Memphis, Tennessee, the BBC reports.

Riley Keough inherited much of Presley's fortune. Photo: profimedia (Archive)

Keough inherited the house and much of Presley's fortune after her mother, Lisa Marie Presley, died last year.

However, Graceland is currently at the center of a dispute with a company that claims the property was used as collateral for a $3.8 million loan taken out by Lisa Marie Presley but never repaid.

The actress claims that the loan documents are fake and that her mother's signature was forged. Riley Keough, 34, who is known for her role in Amazon's 'Daisy Jones & The Six', has launched legal proceedings to prevent the auction scheduled for Thursday.

Naussany Investments, the company that says it made the loan, has yet to comment publicly.

Elvis Presley Enterprises, which handles Graceland and the Elvis Presley Trust assets, claims the loan was never taken out and that Lisa Marie Presley never signed.

Elvis Presley Enterprises can confirm that these claims are fraudulent. There is no foreclosure sale. Quite simply, the counterclaim that was filed is to stop the fraud”Elvis Presley Enterprises relayed.

Keough's filing says the intended sale would be “non-judicial” and would rely on documents in violation of Tennessee law.

A hearing was scheduled for Wednesday, according to court documents.

Elvis Presley bought the house in 1957 and lived there until his death two decades later.

In the early 1980s, the 14-acre complex was opened to the public as a theme park dedicated to the history of music. It currently attracts about 600,000 visitors a year, according to the website.