According to The Sun, the windfall is said to be a substantial sum that will instantly transform her wealth.
The publication reports that the money is due for payment on July 22.
Since the rock star took his own life back in 1998, Tiger Lily – whose full name is Heavenly Hiraani Tiger Lily - has lived a seemingly ordinary life.
The 20-year-old has recently taken up modelling, making her photographic debut in November 2016 posing for a Fairtrade-registered shirt factory, House of Khadi.
But most recently, she has featured in a nude photoshoot for photographer Kate Bellm.
This article originally appeared on New Idea.