A weird authorized battle over who truly owns Elvis Presley’s Graceland property got here to an finish on Wednesday, leaving the long-lasting web site within the arms of the King of Rock and Roll’s household.
The corporate insisting it owned the deed to Graceland mentioned it’s going to withdraw its declare on the property, the Related Press reported.
Hours earlier, a Tennessee court docket had dominated in favor of Elvis’ granddaughter, actor Riley Keough, who had been combating to maintain the property.
Keough grew to become the proprietor of the 13.8-acre Memphis property and trustee of Promenade Belief, which operates the property, after her mom, Lisa Marie Presley, died in January 2023.
The saga began when an organization referred to as Naussany Investments and Personal Lending mentioned it owned the deed to the property and introduced plans final week to public sale it off.
The corporate mentioned that Lisa Marie Presley had taken out a $3.8 million greenback mortgage from Naussany, utilizing the property as collateral. Naussany alleged it had the appropriate to promote the property for reimbursement after Presley by no means paid them again.
However Keough sued Naussany, accusing the creditor of forging the signatures that purportedly gave it the deed to Graceland.
“Whereas the paperwork bear signatures that appear like the signatures of Lisa Marie Presley, Lisa Marie Presley didn’t, actually, signal the paperwork,” the lawsuit says.
“These paperwork are fraudulent,” Keough’s lawsuit alleges. “Lisa Marie Presley by no means borrowed cash from Naussany Investments and by no means gave a deed of belief to Naussany Investments.”
The lawsuit additionally argues that Naussany is not an actual firm.
“Naussany Investments & Personal Lending LLC seems to be a false entity created for the aim of defrauding the Promenade Belief, the heirs of Lisa Marie Presley, or any purchaser of Graceland at a non-judicial sale,” the go well with continues.
Naussany mentioned in an e mail to the AP that it will be “withdrawing all claims with prejudice.” Naussany informed the AP that it was dropping the case as a result of each the mortgage and a vital doc had been filed in one other state, which means the corporate must take authorized motion in a number of states.
“Because the court docket has now made clear, there was no validity to the claims,” a spokesperson for Graceland informed Enterprise Insider. “There will probably be no foreclosures. Graceland will proceed to function because it has for the previous 42 years, making certain that Elvis followers from world wide can proceed to have a greatest in school expertise when visiting his iconic house.”
Legal professionals for Keough declined to touch upon the state of affairs.
BI wasn’t capable of attain Naussany Investments.
