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Graceland is set to stay in the Presley family following the death of Lisa Marie last week.
It was announced on Thursday (12 January) that Elvis' daughter had sadly passed away after suffering a double heart attack.
In a statement confirming the star’s death, her mother Priscilla asked for privacy.
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She said: "It is with a heavy heart that I must share the devastating news that my beautiful daughter Lisa Marie has left us.
“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.”
Following the announcement, some questions were raised as to what would happen to the iconic Memphis estate.
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But Graceland has now confirmed that it will pass on to Lisa Marie's three daughters Riley, Harper and Finley.
The mansion and its surrounding grounds became synonymous with Elvis during his career, until his death in 1977, when it was handed over to Lisa Marie, who was just nine years old at the time.
Since then, the King of Rock's fans have flocked from around the world to visit.
Lisa Marie's death comes over two years after the passing of her son Benjamin Keough, who died by suicide in July 2020.
In August last year, the 54-year-old shared an essay about grief that she had written for National Grief Awareness Day.
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She wrote: “Hi. In honour of it being National Grief Awareness Day, I wrote an essay about Grief which was posted today on PEOPLE.
"I thought I’d post it here in the hopes that anyone who needs to hear all of this, it helps in some way."
In her essay, Lisa Marie said grief was ‘not a comfortable subject’ and was 'most unpopular’ to talk about, but that it was an important conversation to have if we were to make ‘any progress’.
"Death is part of life whether we like it or not — and so is grieving," she said.
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"Grief does not stop or go away in any sense, a year, or years after the loss.
"Grief is something you will have to carry with you for the rest of your life, in spite of what certain people or our culture wants us to believe. You do not 'get over it,' you do not 'move on,' period."
Presley said she beat herself up ‘tirelessly’ for her son’s death, and even blamed herself daily for what happened.
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She continued: "This is where finding others who have experienced a similar loss can be the only way to go. Support groups that have your specific kind of loss in common. I go to them, and I hold them for other bereaved parents at my home.
"Nothing, absolutely NOTHING takes away the pain, but finding support can sometimes help you feel a little bit less alone."
Featured Image Credit: ZUMA Press, Inc./Alamy REUTERS/AlamyTopics: Music