The Duchy of Lancaster, owned by King Charles III, has been secretly using funds collected through the ancient practice of bona vacantia to renovate properties owned by the king and rented out for profit, according to an investigation by The Guardian. Bona vacantia refers to the assets left behind by individuals who die without a will or known next of kin. Normally, these assets would be claimed by the Treasury, but exceptions apply to territories linked to the duchies of Cornwall and Lancaster. The Duchy of Lancaster claims that the proceeds it collects from bona vacantia are donated to charities, but The Guardian’s investigation reveals that the funds have been used to renovate properties owned by the king. The Duchy of Cornwall also benefits from bona vacantia funds. The investigation shows that the Duchy of Lancaster has been using the funds to refurbish properties owned by the king and rented out by the duchy for profit. The properties are upgraded using bona vacantia money on the basis that they are “heritage assets”. The investigation reveals that the practice of using bona vacantia funds to upgrade duchy properties has been going on for several years. In 2020, the king’s estate introduced a policy to formalise the process, expanding the number of properties eligible for upgrades using bona vacantia funds. The investigation highlights several examples of properties that have been renovated using these funds. The revelations have been met with criticism from friends and acquaintances of individuals whose estates were claimed by the duchies, who argue that the funds should be going to people who need it, not to organisations that already have plenty. The investigation also raises questions about the transparency and ethics of the use of bona vacantia funds by the duchies.
