The Prince of Wales is currently the head of the Duchy of Cornwall which is a vast collection of land and property in the UK and beyond, but once he becomes king, it will pass on to the "eldest surviving son of the monarch".
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Speaking about Prince Charles, who is the Duke of Cornwall, the official website explains: "At the age of 21, in 1969, he became entitled to the full income of the Duchy and took over its management."
Here's how the handover would work: "A charter ruled that each future Duke of Cornwall would be the eldest surviving son of the Monarch and the heir to the throne," which would make Prince William the Duke of Cornwall upon his father's accession to the throne.
Highgrove House is part of the Duchy
As well as Prince Charles' current countryside abode, Highgrove House, other properties will be passed on to Prince William under the Duchy would be developments in Newquay and Poundbury and most of the land which makes up the Isles of Scilly.
Charles takes his role as the steward of the Duchy very seriously, putting in a lot of time and effort to the successful running of the properties.
The website reads: "His philosophy is to nurture and improve the estate in order to pass it on to the next generation in a stronger condition."
Prince William will also manage Home Farm one day
So does Prince Charles make money on these houses and projects? " The Duke has no access to the Duchy's capital value," which means he can't sell them. Additionally, "He pays income tax on the annual revenue, which is used to fund the public, charitable and private activities of The Duke and Duchess of Cornwall, The Duke and Duchess of Cambridge and The Duke and Duchess of Sussex."
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