King Charles ‘profiting millions’ from dead peoples’ land under medieval system

The British monarch is raking in a fortune from the deaths of thousands of people to upgrade his property empire, it’s been revealed.

King Charles is raking in millions from the deaths of thousands of people in the northwest of England, with the fortune being used to upgrade his property empire, it’s been revealed.

For those who die with no will or heirs in parts of England, the king’s estate claims their assets as part of a medieval system known as bona vacantia, meaning assets with no owner, according to the Guardian.

The Duchy of Lancaster, a controversial land and property estate that generates huge profits for King Charles III, is roping in the riches because of the outdated system.

Over the past decade, the duchy has collected more than £60m ($A114m) in funds, despite the royals claiming that after deducting costs, bona vacantia revenues are donated to charities.

However the Guardian reports they have seen internal documents which show only a small percentage of these revenues is being given to charity. The remainder of the funds are being used to finance the renovation of properties that are owned by the king and rented out for profit.

In other leaked documents seen by the publication, properties identified as eligible for use of the funds include townhouses, holiday lets, rural cottages, agricultural buildings, a former petrol station and barns, including one used to facilitate pheasant and partridge shoots in Yorkshire.

And the money spent on upgrades include new roofs, double-glazing windows, boiler installations and replacements of doors and lintels.

One document references the renovation of an old farmhouse in Yorkshire, helping transform it into a high-end residential let. Another upgrade is helping turn a farm building into commercial offices.

King Charles is secretly profiting millions from the deaths of thousands of people in the northwest of England.

Three sources familiar with the duchy’s expenditure told the Guardian that the estate was using revenues collected from dead citizens to refurbish its profitable property portfolio, making considerable savings for the estate.

One insider said the bona vacantia expenditure, which has until now not been publicly disclosed, was akin to “free money” and a “slush fund”.

Earlier this year, in his first annual payout since inheriting the estate from his late mother Queen Elizabeth, Charles received £26m ($A50m) from the Duchy of Lancaster.

The Guardian identified dozens of people whose money has been transferred to the king’s hereditary estate after they died in the northwest in places including Manchester and Liverpool.

King Charles received £26m (A$50m) from the Duchy of Lancaster.

Several had been living in rundown properties or social housing that contrast with the high-end duchy properties being transformed with the money they left behind.

Some of their surviving friends told the Guardian that they were “disgusted” to learn their assets were being used to renovate the king’s properties, calling the practice “shocking” and “not ethical”.

Buckingham Palace declined to comment.

However, a Duchy of Lancaster spokesperson indicated that, following the Queen’s death, the king endorsed the continuation of a policy of using bona vacantia money on “the restoration and repair of qualifying buildings in order to protect and preserve them for future generations”.

Originally published as King Charles ‘profiting millions’ from dead peoples’ land under medieval system