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King Charles III is benefiting from the inheritance of thousands of people in north-west England, according to a report in the British newspaper. Typically, real estate, money and other assets go to the state in cases where people die without a will or heirs. However, in the historic Duchies of Lancaster and Cornwall, which are traditionally privately owned by the Crown, royal property managers receive the ‘bona vacantia’, meaning abandoned property.

The Guardian recently wrote that these revenues would also be used to renovate and rent out properties in the Duchy of Lancaster, which is personally owned by the king. Critics called the arrangement archaic.

After publication of the article, the Lancaster government announced that it would invest more than 100 million pounds (115 million euros) in investment funds that also focus on ethical aspects. The anti-monarchy organization Republic spoke of an “admission of unethical investments”. At the same time, Republic criticized: “But they will still invest money taken from the dead and spent as Charles wants.”

According to the Guardian, the Duchy had previously not provided any information about whether its charities had invested in oil or gas, tobacco, arms or mining companies. However, there is now no evidence that the use of the titles ‘bona vacantia’ will be changed, the newspaper reported this weekend.

The Duchy of Lancaster is considered the King’s largest source of income and has increased by more than £20 million in recent years. The property includes some of the most famous addresses in London, as well as properties in England and Wales.

Greater Manchester Mayor Andy Burnham has called the ‘bona vacantia’ rule in the Duchy of Lancaster ‘a bizarre relic of feudal Britain’. His colleague for the Liverpool City Region, Steve Rotheram, called for clarification and transparency. “Charities were bypassed and instead it appears that money was spent on renovating royal properties,” Rotheram criticized.

The Duchy of Cornwall, which is traditionally ruled by the heir apparent – ​​Charles’ eldest son Prince William – also benefits from ‘bona vacantia’ titles. However, this Duchy has long been pursuing an ethical investment strategy. None of the duchies have to pay corporate tax or capital gains tax. (sda/dpa)