Controversy Surrounds King Charles as Bona Vacantia Funds Fuel Property Empire

King Charles is facing accusations of exploiting the deceased, with insiders alleging that his property empire, managed through the Duchy of Lancaster, is tapping into assets as a 'slush fund' for profit. The Duchy has traditionally gathered assets from individuals who passed away within its jurisdiction without a will or next of kin, a practice known as 'bona vacantia' in the feudal system.

Over the last decade, the Duchy has amassed over £60 million, a portion of which, after covering expenses, purportedly goes to charities established by the late Queen. One such charity is the Duchy of Lancaster Jubilee Trust, founded in 2001, aimed at supporting the upkeep and conservation of heritage assets across the estate for the 'public benefit.'

However, internal documents obtained by The Guardian reportedly disclose a shift in the use of funds towards the renovation of properties intended for profitable rentals. According to the 2020 policy named SA9, funds can be allocated for the 'public good' to repair, preserve, and protect duchy properties categorized as 'heritage assets.'

The definition of heritage assets extends beyond listed buildings to include properties in conservation areas, areas of outstanding natural beauty (AONB), those of 'local historical importance,' or special scientific interest. The Guardian's analysis suggests that the 2020 policy grants the duchy the liberty to use bona vacantia on up to half of its extensive property portfolio.

Insiders familiar with the Duchy's financial activities allegedly consider the bona vacantia funds as 'free money' and a 'slush fund.' Eligible properties for funding range from townhouses, holiday rentals, rural cottages, and even unconventional structures like an old petrol station and barns, including one utilized for partridge shoots in Yorkshire.

Documents detail the transformation of an old farmhouse into a high-end residential rental and the conversion of a farm building into commercial offices. Some funds have reportedly been used to purchase log burners for properties owned by the king and managed by his estate, enhancing their profitability.

Critics argue that this practice indirectly benefits King Charles, who received a £26 million annual payout from the duchy in his first year of inheriting the estate from the Queen. The 2020 policy acknowledges that such spending may incidentally boost the king's private income but emphasizes that the primary intention is the preservation and protection of property fabric.

In response to the allegations, a spokesperson for the Duchy of Lancaster stated that bona vacantia funds are allocated to three charities established by the late Queen, emphasizing their use to support local communities, protect land sustainability and biodiversity, and preserve public and historic properties across the Duchy of Lancaster estates. The spokesperson asserted that King Charles has reaffirmed that bona vacantia funds should not benefit his private income but should primarily serve these broader purposes, including the restoration of qualifying buildings for future generations.