I don't see that being possible, in the way of a cemetary auto adding in sims who die off camera (out of household), to the lot. That cemetary could fill up fast, depending on it's size. With mods, sims can die even faster by certain means.
However just like what SarahsShady said, I've done that myself. It's a good way to create a community cemetary.
In Sims 3, basically the same thing too, except I'd have the current family I was playing with, buy a small lot to create their family cemetary.
For me, irl, even a 64x64 lot ain't big enough to create the cemetary right out our windows. There's the old cemetary and the newer portion.
And yea, it's peaceful here.