Riley Keough gains sole ownership of mom Lisa Marie Presley’s estate

Lisa Marie Presley’s Graceland has a new owner.

Riley Keough received possession of the renowned Memphis property that previously belonged to her grandfather and legendary crooner, Elvis Presley, as well as the title of sole trustee of her late mother Lisa Marie Presley's estate.

Following a contentious legal dispute with her grandmother Priscilla Presley, Keough's settlement, filed in June, was finally authorised by Los Angeles Superior Court, according to a Friday report from Deadline.

According to the source, Priscilla's request to be buried next to Elvis at Graceland's Meditation Garden, which she made in May but was first turned down for, has now been approved.

The 34-year-old "Daisy Jones & The Six" actress will now be in charge of Lisa Marie's twin girls from her marriage to Michael Lockwood, Finley and Harper Lockwood, who are 14 years old, and their sub-trusts.

Los Angeles Superior Court Judge Lynn Healey Scaduto writes, “The settlement is in the best interests of minors Harper Lockwood and Finley Lockwood, and confirm that Michael Lockwood’s signature on their behalf, as Guardian Ad Litem, is valid and binding.”

As a special adviser to the trust, Priscilla will be paid a monthly stipend.

To become the sole trustee of her mother's estate, Riley reportedly agreed to pay Priscilla, 78, almost $1 million in addition to $400,000 for legal costs.