Lisa Marie Presley's Estate Sued Over $3.8 Million Loan

Lisa Marie Presley's estate is being sued over a $3.8 million loan. ET reports that Naussany Investments & Private Lending, LLC filed legal paperwork to recoup the money they claim Presley borrowed back in 2018. The company claims Presley took out a $450,000 loan as well, two years prior.

In the court filing, NIPL, LLC included two U.S. Bank cashier's checks made out to Presley, as well as a promissory note she signed, which stated that she would pay off the $3.8 million loan by May 16, 2022. If she did not, NIPL, LLC could file the Deed of Trust to the collateral Presley used to secure the loan. According to the court documents NIPL, LLC claims they made attempts to collect payment but were unable. The private lender claims they had no contact with Lisa Marie after March 23, 2022.

Ultimately, NIPL, LLC says it is willing to work out a settlement arrangement with Presley's estate. As long as the trustee — Presley's eldest daughter, Riley Keough — agrees to pay 75 percent of the $3.8 million borrowed, the private lender will not proceed with legal action. This means that, within 45 days, the estate would need to make a payment of roughly $2.850 million.

On Thursday, Jan. 12, Presley was rushed to the hospital after suffering a medical emergency. She died sometime later. No official cause of death has been reported, Presley was 54 at the time of her death. In a statement announcing the terrible news, Presley's mother, Priscilla Presley, wrote, "It is with a heavy heart that I must share the devastating news that my beautiful daughter Lisa Marie has left us. She was the most passionate strong and loving woman I have ever known. We ask for privacy as we try to deal with this profound loss. Thank you for the love and prayers. At this time there will be no further comment."

In June, it was revealed that Keough had become the sole trustee of her mother's estate, after coming to an agreement with her grandmother. Keough's legal reps petitioned the court to approve a settlement between the two women. "The beneficiaries all save money that would have gone to Priscilla who was going to charge a trustee fee," explained Keough's lawyer, Justin Gold.

Gold went on to detail, "In settling the claims pending in Priscilla's Petition, the parties are saving significant legal fees by avoiding litigation, and they are likewise avoiding the spectacle of intra-family litigation that would have been inimical to Lisa's wishes and not in the best interests of the family." As a result of the agreement, Keough is the sole trustee of her mother's estate, as well as of the sub-trusts for her 14-year-old twin sisters Harper and Finley Lockwood. Keough intends to protect and invest estate money "in a manner consistent with the needs of the beneficiaries," per Gold, "and not influenced by the desire of a Trustee."