Lamar Odom and Khloe Kardashian Divorce Setllement
Khloe Kardashian will receive a £7million payout after her divorce from the NBA star.Reuters

Khloé Kardashian will reportedly receive a £7m payout after her divorce from Lamar Odom.

The Keeping up with the Kardashians star tied the knot with the 34-year-old professional basketball player in 2009, just four weeks after they first met.

According to US weekly, the 29-year-old reality star will keep her $4m Tarzana mansion and her $1m diamond engagement ring, as well as being awarded a $2m cash payout from the NBA star's reported $116m earnings.

The couple are are said to have a water tight pre-nup. A source told US Weekly: "Khloé and Lamar have nothing to worry about as far as financés. Their pre-nup is ironclad. For every year of their four-year union, she will receive $500,000."

According to the detailed pre-nup, Kardashian will be permitted to keep any gifts she received from Odom during their short-lived marriage, including the Vartan 12.5 carat radiant-cut diamond wedding ring which is worth in the region of £1 million.

The brunette beauty was first seen without her wedding ring on November 23, prompting speculation that all was not well in the marriage.

While she is also entitled to keep the $4m Tarzana mansion, Kardashian does not plan to return to live in the former marital home. "She has been discreetly searching for a new place to call home," the weekly reported.

"Khloé was trying to buy a house down the road from Kris Jenner's but it didn't work out. Somebody else placed a higher bid," added the source.

The reality star will also remain a beneficiary on the $10m life insurance policy on the former Lakers basketball player, but only until the divorce is finalised.

During a red carpet interview with E! last year, Khloe described a pre-nup as good sense stating that "it doesn't mean you love someone less."

News of the impending divorce follows a matter of weeks after Khloe's mother Kris Kardashian and step-father Bruce Jenner announced they were separating after 21 years of marriage. Meanwhile, sister Kim announced her engagement to singer Kanye West.