Lisa Marie Presley's Estate Hit With Lawsuit Over $3.8 Million Graceland Loan Secured Before Her Death
The estate of the late Lisa Marie Presley was slapped with a lawsuit over a $3.8 million loan secured by Graceland.
Sept. 20 2023, Updated 7:31 p.m. ET
Lisa Marie Presley's estate is facing a lawsuit over a $3.8 million loan secured by Elvis Presley's Graceland prior to her death, RadarOnline.com has learned.
The creditors filed a claim seeking payment, stating they will agree to a settlement arrangement under two conditions: pay at least 75 percent which is $2,850,000, and also do so within 45 days.
Priscilla said that losing a daughter is "like a large part of your life is taken away."
A Deed of Trust was signed and notarized by someone connected to Presley, according to the court docs, but was not filed due to an agreement of the loan being paid in full by May 16, 2022. The loan was secured more than eight years ago on August 10, 2015.
Lisa Marie was apparently sent several letters but never handled it before she died, leading them to file a claim against the estate, The Blast revealed on Wednesday.
RadarOnline.com reported in January that Lisa Marie had her fair share of money woes, having racked up serious debt before she died.
The filing claimed her loan was secured on August 10, 2015.
Court documents filed as part of her divorce war with ex-husband Michael Lockwood detailed her financial struggles as the two battled over child support.
The two had reached a settlement where Lisa Marie agreed to pay $6k a month for their 14-year-old twins, Harper and Finley.
Court docs filed as part of her custody battle revealed her dire financial situation.
In the docs, Lisa Marie revealed her financial despair, explaining she had yet to pay back $280k to the assistant writer who helped her work on her tell-all, plus she also owed $1.17 million to Barclays Bank UK for a loan, $40k on the Maserati she leased.
The only daughter of the late Elvis and Priscilla Presley stated that she also owed $700k in back taxes, $568k to the IRS for 2021 taxes, $399,012 to the California Franchise Tax Board for 2017/2018, and another $159k for 2021.
Lisa Marie argued that despite her earnings noted by Lockwood, she had sky-high monthly expenses totaling $92k.
Priscilla recalled their last night together before Lisa Marie's shock death.
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As we previously reported, Lockwood, who was married to LP from 2006 to 2021, won full custody of their two twin daughters following her sudden passing in January. Her cause of death was ruled as a "sequelae of small bowel obstruction." She was 54.
The custody development came after Harper and Finley signed a document in March, consenting to Lockwood acting as their guardian ad litem.
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In addition to the twins, Lisa Marie was a proud mom to actress daughter Riley Keough and son Benjamin Keough, who tragically died by suicide in 2020.
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