- The Duchy of Lancaster has collected assets from the dead worth more than £60 million
King Charles is accused of profiting from the dead as insiders claim his property empire is using their assets as “free money” and a “slush fund”.
The monarch’s private estate, the Duchy of Lancaster, has long collected assets from people who died in its territory without a will or next of kin in a feudal system known as bona vacantia.
More than £60 million has been raised over the last decade, which – after costs – will be distributed to charities founded by the late Queen.
These include the Duchy of Lancaster Jubilee Trust, established in 2001, which supports the care and preservation of heritage assets across the estate for “public benefit”.
However, internal duchy documents obtained by the Guardian reportedly show how funds are increasingly being used to fund the renovation of properties that are rented out for profit.
King Charles has been accused of profiting from the dead as insiders claim his property empire is using their wealth as “free money” and a “slush fund”.
The 2020 directive, entitled SA9, states that funds for the “public good” can be used to repair, maintain and protect ducal property if it is classified as “cultural heritage”.
However, the definition goes beyond listed buildings to include any building that falls into broader categories, including those in a conservation area or an Area of Outstanding National Beauty (AONB), or where they are considered to be of “locally historically significant” or of special scientific interest.
A Guardian analysis suggests that the 2020 policy gave the Duchy permission to spend up to half of its vast property portfolio on vacant properties.
Three sources familiar with the duchy’s spending confirmed to the Guardian that the estate used the income collected from the dead to rehabilitate its vast property portfolio.
One said Duchy insiders treated the Bona Vacantia funds as “free money” and a “slush fund.”
Properties identified as eligible include townhouses, holiday apartments, country houses, an old petrol station and barns, including one used for partridge hunting in Yorkshire.
One document refers to the renovation of an old farmhouse to convert it into a high-quality residential building, while in another project a farm building was converted into commercial offices.
In some cases the money was spent on purchasing wood-burning stoves for properties owned by the king and rented out by his estate.
A source said Duchy insiders were treating the Bona Vacantia funds as “free money” and a “slush fund.”
The monarch’s private estate, the Duchy of Lancaster, has long collected assets from people who have died in its territory, raising more than £60 million in the last decade
A Guardian analysis suggests that the 2020 policy gave the Duchy permission to spend up to half of its vast property portfolio on vacant properties
The practice is intended to help make rental properties more profitable and in turn benefits the king, who received £26 million from the duchy in his first annual payout since inheriting the estate from the queen.
The 2020 policy recognizes that using the money in this way could result in an “incidental” benefit to the king’s personal income.
It continues: “The main purpose of the expenditure must be the preservation and protection of the structure of the property as well as any benefit to the private budget.” [the king’s private income] is of secondary importance for this purpose.”
A spokesman for the Duchy of Lancaster said of the Bona Vacantia funds: “The balance will be split between the Duchy of Lancaster Benevolent Fund, the Duke of Lancaster Housing Trust and the Jubilee Trust, three charities founded by the late Queen.”
“These charities were founded after Queen Elizabeth decided that Bona Vacantia proceeds should no longer benefit the Privy Purse.
“On his ascension to the throne, His Majesty the King reiterated that funds from Bona Vacantia should not go to the Privy Purse, but rather primarily to support local communities, protect the country’s sustainability and biodiversity, and preserve public and historic lands across the country Goods from the Duchy of Lancaster were to be used.
“This includes restoring and repairing qualified buildings to protect and preserve them for future generations.”