Graceland will be passed on to his granddaughters following the death of Lisa Marie Presley.

The Memphis estate, worth about $US500 million (just over $AU715 million), will be passed down to her three daughters: actress Riley Keough, 33, and twins Harper and Finley Lockwood, 14.

Elvis Presley at Graceland in 1957.

Lisa Marie had inherited Graceland after her father Elvis Presley’s death in 1977. She was just nine.

In 2013, she said the property would always remain in control of her family, that “Graceland was given to me and will always be mine. And then passed to my children. It will never be sold.”

Like her father, Lisa Marie also chose Graceland to be her final resting place. She will be buried alongside Elvis and her late son, Benjamin Keough.

A public memorial service will be held on the front lawn of Graceland at 9am on Sunday, January 22.

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