King Charles Received Over $75 Million From The Estates Of Dead People Intended For Charity Using Feudal Laws

King Charles III has been accused of utilizing ancient feudal laws to obtain tens of millions of pounds from the estates of deceased individuals, which were intended for charitable purposes. 

In a bombshell report this week, The Guardian explained how the funds, known as “bona vacantia,” (or, “vacant goods”) are assets that belong to individuals who passed away without a will or any known heirs.

The practice of bona vacantia refers to the medieval tradition where the king’s duchy inherits funds from individuals whose last known address is associated with Lancashire county in England, which has been ruled by a duke for centuries.

The king has allegedly used these funds to enhance his commercial properties and generate rental income for years. In the last ten years, Charles has reportedly pocketed over $75 million in funds.

Documents obtained from the Duchy of Lancaster, Charles’ extensive land and property estate inherited from Queen Elizabeth II, reveal the covert use of the funds to renovate properties rented out for profit. 

When companies go out of business, the duchy also acquires the assets they own.

Since Charles’ ascension, the Duchy of Cornwall has been passed onto Prince William and operates under the same system.

Both duchies operate as real estate empires and own vast areas of farmland, hotels, castles, offices, warehouses, businesses and numerous properties in London. Neither duchy is subject to corporation tax or capital gains tax, despite the over $1.6 billion it amassed in revenue over the past six decades. 

The Guardian found that only 15% of the money has been directed towards such purposes over the past ten years.

In May 2020, the scope of the law was broadened when a new policy outlined the permissible uses of bona vacantia funds and included their application towards the “public good.”

The duchy has been authorized to allocate its earnings towards specific repairs for approximately half of its property portfolio. These repairs include renovations for walls, foundations, floors and chimneys, as well as electrical and insulation work.

A spokesperson told the outlet, “The king reaffirmed that money from bona vacantia should not benefit the privy purse, but should be used primarily to support local communities, protect the sustainability and biodiversity of the land and preserve public and historic properties across the Duchy of Lancaster estates.”

Charles’ rental properties have now garnered tens of millions in duchy profits every year, although Buckingham Palace has declared this revenue as private.