King Charles to Pay Yearly Rent of N341.73 Million to His Son, Prince William

• King Charles III’s will start paying rent to his son Prince William as he inherited the Duchy of Cornwall
• The Duchy of Cornwall is said to be King Charles's favourite home which was owned by his late mother, queen Elizabeth
• The Duchy of Cornwall is part of a long list of inheritances Prince William received from his grandmother

Prince Williams has become his father's landlord, King Charles, and will collect yearly rent of N341.73 million(700,000 pounds).

William, 40, received King Charles’s most beloved Highgrove home as one of the inheritances left by his grandmother, Queen Elizabeth, when she passed.

The Sun reports that at the time the queen's death was announced, the Highgrove home was where King Charles slept.

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The Highgrove home is therefore considered one of the king's most beloved properties.

Charles paying rent to his son

The Highgrove is one of the real estates under the Duchy of Cornwall, a 345 million pound property portfolio.

Dailymail reports that the Duchy owns 128,000 acres of land and netted 21 million pounds in income last year, which was passed from Charles to his son when he became king.

But it means the King, 73, now must pay up to 700,000 pounds a year to honour a long lease he signed on his favourite home.

Other portfolios

The Duchy bought Highgrove, in Gloucestershire, in 1980 and it has been since been transformed into a family home by the new King.

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The property portfolio passed down to the new Prince of Wales includes HMP Dartmoor and the Oval cricket ground in South London.

Queen Elizabeth II dead

The 96-year-old monarch who ascended to the British throne in 1952, breathed her last at Balmoral Castle in Scotland, where she spent her last days.

According to the BBC and other media outlets, Her Majesty died surrounded by her family, including Prince Charles and his children, Princes William and Harry.

News of the queen's deteriorating condition started spreading earlier today after a statement from Buckingham Palace indicated she had been put on medical supervision.

Source: Legit.ng