Lisa Marie Wasted Elvis' Riches!

SPOILED Lisa Marie Presley has blown through the $1 billion fortune she inherited from her father, Elvis — and is now homeless and crashing on relatives’ couches after losing custody of her twins!

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In shocking court papers filed as part of her ugly divorce from fourth hubby, Michael Lockwood, 49-year-old Lisa Marie admits she has never really worked a day in her life, was milked dry by Scientology, got bad financial advice and squandered the rest of Elvis’ legacy on drugs and a luxury jet-set life.

Her heyday was crammed with expensive restaurants, designer clothes, $340,000 parties, multimillion estates, exotic cars, private jets and near-constant travel!

Now, Elvis’ only legally recognized child insists she’s so broke she can’t remember the last time she “spent money on clothes or shoes of any value,” is forced to get around on “a $3,500 Vespa scooter” and hasn’t flown — or traveled — in 18 months!

Lisa Marie concedes she’s had a lifelong battle with addiction, and insiders claim she blew so much money on drugs she was forced to sell her father’s famed Memphis estate, Graceland.

But she still earns a $4,300 monthly salary from the tourist attraction. She uses the cash to buy health insurance for herself and twin eight-year-old daughters, Harper and Finley, who were taken away by California government officials as Lisa Marie entered rehab last year.