Lisa Marie Presley’s estate is being sued for $3.8million.
According to court documents obtained by Entertainment Tonight, the late singer took out a loan from a a private lending company in May 2018, and she used her ownership stake in Elvis Presley Enterprises and Graceland as collateral.
The lending company are claiming Lisa, who died in January aged 54, failed to repay the $3.8million loan.
The company has agreed that if $2.8 million, which is 75% of the loan, is repaid they will drop the case.
Lisa Marie’s daughter Riley Keough is now the sole heir of the estate.
The Daisy Jones & The Six star has also become the owner of Elvis’ Memphis home Graceland, which Lisa Marie inherited upon his death in 1977.
Lisa Marie, who was the only child of rock and roll legend Elvis Presley, died on January 12 at the age of 54 – after she was found unresponsive at her home in Calabasas, California.
The singer was just nine years old when her famous father died on August 16, 1977 at the age of 42.
Lisa Marie was married to musician Danny Keough from 1988 to 1994, and the former couple had two children together – daughter Riley Keough and son Benjamin.
Benjamin tragically took his own life in 2020 at the age of 27.