The ugly legal battle over Elvis Presley’s Graceland has come to an end
DEBARYLIFE – The business that maintained it was the rightful owner of Graceland informed the AP that it was rescinding its assertion.
Riley Keough, the granddaughter of Elvis Presley, had accused the business of fraud and document forgery.
The court case ended, just hours after a judge found in Keough’s favor.
Elvis Presley’s family now owns the famed Graceland property after a strange court dispute over who is the rightful owner of the home ended on Wednesday.
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As per the Associated Press, the business that maintained ownership of the deed of Graceland announced that it wwouldrelinquish its claim to the estate.
Actor Riley Keough, the granddaughter of Elvis Presley, had won her battle to keep the property hours earlier in a Tennessee court.
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Following the death of her mother Lisa Marie Presley in January 2023, Keough assumed ownership of the 13.8-acre Memphis property and served as trustee of Promenade Trust, which manages the estate.
The drama began last week when Naussany Investments and Private Lending, a firm, declared that it was the owner of the property’s deed and that it would be put up for auction.
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According to the corporation, Lisa Marie Presley used the estate as collateral to obtain a $3.8 million loan from Naussany. Naussany said that since Presley never gave them the money back, it was entitled to sell the property.
However, Keough filed a lawsuit against Naussany, alleging that the creditor had forged the signatures that were supposed to have granted the property to Graceland.
“While the documents bear signatures that look like the signatures of Lisa Marie Presley, Lisa Marie Presley did not sign the documents,” claims the lawsuit.
According to Keough’s lawsuit, “These documents are fraudulent.” “Lisa Marie Presley never borrowed money from Naussany Investments and never gave a deed of trust to Naussany Investments.”
In addition, the lawsuit claims that Naussany is not a legitimate business.
“Naussany Investments & Private Lending LLC appears to be a false entity created to defraud the Promenade Trust, the heirs of Lisa Marie Presley, or any purchaser of Graceland at a non-judicial sale,” the lawsuit adds.
Naussany informed the AP via email that it would be “withdrawing all claims with prejudice.” Because the loan and a crucial document had been filed in a different state, necessitating legal action in numerous jurisdictions, Naussany informed the AP that it was terminating the lawsuit.
An official at Graceland told Business Insider, “As the court has now made clear, there was no validity to the claims.” “A foreclosure will not occur. Graceland will carry on as it has for the previous forty-two years, guaranteeing that visitors to Elvis Presley’s legendary house will continue to have the greatest experience possible.”
Keough’s attorneys chose not to comment on the circumstances.
BI was unable to get in touch with Naussany Investments.