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As you know, the portfolios of the British royal family include all kinds of assets from castles to sandstone mines.
However, Buckingham's sources of income are apparently inexhaustible as King Charles is profiting indirectly from the deaths of thousands of people in North West England. According to the Guardian, when someone dies intestate or has no next of kin, then the estate is inherited by the Duchy of Lancaster.
Income from the Duchy of Lancaster, which includes 18,481 hectares of farmland, mostly in the north of England and the Midlands, passes automatically to whoever is on the throne. The value of this land is estimated at 652 million pounds.
"Bona vacantia" are estates belonging to people who died intestate or had no acquaintances and were collected by the duchy. In the last 10 years more than 60 million pounds of "bona vacantia" have been collected. The Duchy has long claimed that "bona vacantia" are donated to charity.
However, only a small percentage of this income goes to charity. Internal Duchy documents cited by the Guardian reveal that the funds are being used to refurbish royally owned and leased properties.
The properties include main residences, cottages, farmhouses, a former petrol station and barns, including one used for Yorkshire quail and pheasant hunting. An old farmhouse in Yorkshire is to be turned into a luxury villa, according to a document.
The diversion of 'bona vacantia' funds in this way turns out to be a financial aid to the king's estate. The practice helps make rental properties more profitable, which indirectly benefits the king, who receives tens of millions of pounds. It is estimated that in 2022 King Charles received 26 million pounds from the Duchy of Lancaster.
King Charles and his mother Queen Elizabeth, who died last year, received sums totaling more than £1 billion from land and property holdings. These profits, according to some experts, should not go to the royal family, but to the British Treasury.
It is alleged that the Queen used income from the Duchy of Lancaster to help Prince Andrew pay an undisclosed sum, reported to be more than £9 million, to settle a sexual assault case brought against him by Virginia Geoffrey. /The Guardian
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