Actress Riley Keough the new owner of Elvis Presley's Memphis, Tenn., home, Graceland.

The news follows a court ruling from Friday, Aug. 4, in which a Los Angeles judge named Keough the sole trustee of her mother Lisa Marie Presley's estate, settling a months-long legal dispute.

Keough has inherited her grandfather's property after he left it to Lisa Marie when he died in 1977. Entertainment Tonight reports that Keough's grandmother, Priscilla Presley, will be able to retrieve any of her personal belongings from Graceland, and Keough will allow her to be buried in the Meditation Garden upon her death.

In June, Keough filed a petition for approval of the settlement agreement she reached with her grandmother and Michael Lockwood, the Guardian Ad Litem of her twin 14-year-old half-sisters, Harper and Finlay Lockwood. With the judge signing off on the petition, the actress will serve as the sole trustee for her mother's estate and the sub-trusts for her sisters.

Riley and Priscilla also agreed to terms regarding Lisa Marie's half-brother, Navarone Garibaldi. Priscilla will serve as the trustee for his sub-trust, equaling 1/9 of the trust. What's left of the trust will go to Riley, Finley and Harper.

The court ruling comes after months of disagreement between Keough and her grandmother. Priscilla filed a petition questioning the validity of Lisa Marie's will following a 2016 amendment making Keough and her siblings the sole heirs. Her court-filed documents came just weeks after Lisa Marie's death in January.

In the settlement with Keough, Priscilla has agreed to take a lump sum for her role as "Special Advisor to the Trust."

Lisa Marie — Elvis' only child — died on Jan. 12, 2023, after suffering cardiac arrest in her home in California. She was 54 years old.

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Rarely Seen Pictures of Elvis With Lisa Marie Presley

Lisa Marie Presley was nine years old when her father Elvis Presley died in 1977. This gallery of rarely seen family pictures shows how fond the rock n' roll legend was of his little girl.

On Jan. 12, 54-year-old Lisa Marie Presley died after going into cardiac arrest. Like her father, she leaves behind a young family.