A policy from 2020 entitled SA9 states that funds from the Duchy can be used for the “public good” to repair, preserve and protect properties that are categorised as a “heritage asset”.
However this is not just limited to listed buildings, and includes any that fall within categories such as those in conservation areas or an area of outstanding national beauty or if they are deemed to be of “local historical importance” or of special scientific interest.
According to research conducted by the Guardian, the Duchy has licence to spend up to half of these bona vacantia assets on its vast range of properties.
Several sources familiar with the finances of the Duchy have confirmed that the estate was using money from the assets of the dead to reurbish some of the properties in their portfolio.
The 2020 policy admits that using the money in this way could “incidentally” benefit the King’s private income, even if that is not the outright intention.
It explains: “The primary intention of the expenditure must be the preservation and protection of the fabric of the property and any benefit to the Privy Purse [the King’s private income] is incidental to that purpose.”
A Duchy of Lancaster spokesperson said of the bona vacantia funds: “The balance is allocated between the Duchy of Lancaster Benevolent Fund, the Duke of Lancaster Housing Trust and Jubilee Trust, three charities set up by The late Queen.
“These charities were established after Queen Elizabeth decided that bona vacantia income should no longer benefit the Privy Purse.
“On accession to the throne, His Majesty 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.
“This includes the restoration and repair of qualifying buildings in order to protect and preserve them for future generations.”
