Riley Keough Will Run Lisa Marie Presley Estate and Cements Role in Graceland

Lisa Marie Presley's oldest daughter, Riley Keough, is now the one and only in charge of her mother's estate ... this after settling with her grandmother, Priscilla Presley.

An L.A. County Superior Court judge signed off Friday, so Priscilla is officially out of the picture.

Riley is now a substantial owner of the Elvis Presley Graceland Estate, but according to the settlement, Priscilla will be allowed to use it as her final resting place. TMZ broke the story, during negotiations between Priscilla and Riley, Priscilla wanted to be buried right next to Elvis, which would have displaced Elvis' mom and dad. Remember, Priscilla was divorced from Elvis at the time of his death.

As we reported, Riley paid Priscilla millions to back off from challenging who administers Lisa Marie's trust ... a trust which benefits Riley, along with Lisa Marie's twins, 14-year-olds Harper and Finley.