UK's King Charles allegedly benefiting from dead people. Here's how
King Charles III has been profiting from the deaths of thousands of people whose assets are clandestinely being used to upgrade his hereditary estate, The Guardian reported. The assets—known as bona vacantia—are collected by the Duchy of Lancaster after the death of their owners and used to fund renovations of properties owned by the king and rented out for profit. In contrast to the duchy's claims, only a small portion of revenues from these financial assets are donated to charities.
Why does this story matter?
In May 2020, an internal Duchy policy, called SA9, was introduced to provide guidance on what bona vacantia in the United Kingdom (UK) could be spent on. It states that funds could be used for "public good" to repair, preserve, and protect the fabric of duchy properties when they are categorized as a "heritage asset." However, the definition extends beyond listed buildings on the National Heritage List, allowing for a wider range of properties to qualify for the funds.
What does UK's Duchy policy say
The 2020 document outlining policy SA9 acknowledges an indirect financial benefit to the monarch. It states, "The primary intention of the expenditure must be the preservation and protection of the fabric of the property and any benefit to the privy purse (the king's private income) is incidental to that purpose." It is pertinent to note that earlier this year, in his first annual payout since inheriting the estate from his mother, King Charles received £26m from the Duchy of Lancaster.
How does monarchy justify profits from bona vacantia
A Duchy of Lancaster spokesperson stated that King Charles III supports the continuation of a policy of using bona vacantia money on "the restoration and repair of qualifying buildings to protect and preserve them for future generations." The spokesperson also mentioned that before distributing bona vacantia to charities, the duchy allocates money to a late claims fund in case any surviving relatives make future claims to their inheritance.
Where are the bona vacantia funds located
The duchy essentially inherits these bona vacantia funds from people whose last known address was in a territory known as Lancashire County during the medieval ages. At present, the area comprises Lancashire and parts of Merseyside, Greater Manchester, Cheshire, and Cumbria. Besides the Duchy of Lanchester, there is the Duchy of Cornwall, which collects funds and generates profits for whoever is the heir to the throne. It has been managed by Prince William since last year.
