The legendary estate that once belonged to the King of Rock’n’roll will be inherited by his three grandchildren.

Following the death of Lisa Marie Presley, rumors suggesting that the singer/songwriter’s 33-year-old daughter Riley Keough and 14-year-old twin daughters Finley and Harper will inherit Graceland began to spread.

A spokesperson for the Memphis estate has since confirmed that the property will be passed on to Lisa’s three daughters, People magazine reported.

Previously, the iconic estate, which reels in some $10 million each year from visitors, belonged solely to Lisa Marie who inherited the mansion after her father’s passing in 1977.

While Elvis Presley’s only child initially inherited Graceland in trust, she gained full control of the estate upon her 25th birthday.

Meanwhile, a public memorial for the late singer has been announced.

The memorial will reportedly be held at 9 am on Sunday, January 22, on the front lawn of Graceland.

It has also been confirmed that Lisa Marie will be buried next to her father Elvis, son Ben, grandmother Gladys, great-grandmother Minnie Mae, and grandfather Vernon.

The news comes after Priscilla, Lisa Marie’s mother, announced that her daughter had passed away in a heartbreaking statement.

“It is with a heavy heart that I must share the devastating news that my beautiful daughter Lisa Marie has left us,” she said last Thursday.

“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.”

Our thoughts remain with Lisa Marie’s family during this challenging time.

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