A contentious legal battle over the ownership of Elvis Presley’s Graceland estate has concluded, securing the iconic property for the King of Rock and Roll’s family.

Riley Keough Wins Court Ruling

The dispute ended on Wednesday when the company claiming ownership, Naussany Investments and Private Lending, agreed to withdraw its claim on the estate, according to the Associated Press. Earlier that day, a Tennessee court ruled in favor of Elvis’ granddaughter, actress Riley Keough, who had been fighting to maintain the property within the family. Keough became the owner of the 13.8-acre Memphis property and trustee of Promenade Trust, which manages the estate, following the death of her mother, Lisa Marie Presley, in January 2023.

Naussany Investments’ Claim

The legal saga began when Naussany Investments asserted it owned the deed to Graceland, announcing plans to auction it off. The company claimed Lisa Marie Presley had taken out a $3.8 million loan using the estate as collateral and alleged it had the right to sell the property after Presley failed to repay the loan. However, Keough filed a lawsuit against Naussany, accusing the company of forging Lisa Marie Presley’s signatures on the documents purportedly giving Naussany the deed to Graceland. “While the documents bear signatures that look like the signatures of Lisa Marie Presley, Lisa Marie Presley did not sign the documents,” the lawsuit stated. Keough’s lawsuit also questioned the legitimacy of Naussany, arguing it was a fictitious entity created to defraud the Promenade Trust, the heirs of Lisa Marie Presley, or any potential buyer of Graceland at a non-judicial sale.

Resolution and Future of Graceland

Naussany informed that it would be “withdrawing all claims with prejudice” and cited the impracticality of pursuing the case in multiple states as the reason for dropping the lawsuit. The company acknowledged that the loan and a crucial document had been filed in another state, complicating legal proceedings.

A spokesperson for Graceland expressed relief and satisfaction with the court’s decision. “As the court has now made clear, there was no validity to the claims,” the spokesperson told Business Insider. “There will be no foreclosure. Graceland will continue to operate as it has for the past 42 years, ensuring that Elvis fans worldwide can continue to have a best-in-class experience when visiting his iconic home.” Keough’s legal team declined to comment further on the case resolution. Attempts to reach Naussany Investments for additional comments were unsuccessful.

Preserving a Legacy

With the legal dispute resolved, Graceland remains a cherished landmark for Elvis Presley’s fans. The estate, which has been a museum and tourist attraction since 1982, continues to draw visitors from around the globe, eager to experience the legacy of one of music’s greatest icons. Riley Keough’s victory ensures that Graceland will stay under the stewardship of Elvis’s family, preserving its historical and cultural significance for future generations.