Graceland to remain in the Presley family

MEMPHIS, March 28 (UPI) -- Priscilla Presley says her family has no intention of selling Graceland, the Memphis estate her late husband bought 20 years ago.

Elvis Presley's home was designated a National Historic Landmark Monday and Presley used the occasion to debunk reports their daughter Lisa Marie was planning to unload the property, People magazine reported Tuesday.

"Nobody is selling Graceland," Priscilla Presley told People. "Lisa is the sole heir to Graceland -- she owns the house and the grounds. It will be a place for her and the children to visit forever."

She said she is sure her late husband would have been humbled by Monday's designation ceremony conducted by Interior Secretary Gale Norton.

"Graceland was his pride and joy," she said.

The "King of Rock 'n' Roll," who died in 1977, is buried on the grounds of the 14-acre estate along with his parents and grandmother.