Crown Estate

The Crown Estate is a collection of lands and holdings in the United Kingdom belonging to the British monarch as a corporation sole, making it "the sovereign's public estate", which is neither government property nor part of the monarch's private estate. The Crown Estate in England, Wales, and Northern Ireland is managed by the Crown Estate Commissioners, which trades as The Crown Estate. In Scotland, the Crown Estate is managed by Crown Estate Scotland, since the Scottish estate was devolved in 2017. The sovereign has official ownership of the estate but is not involved with its management or administration; nor does the sovereign have personal control of its affairs. For all practical purposes, the Estate Commissioners shall exercise "all such acts as belong to the Crown's rights of ownership" for the estate "on behalf of the Crown". The proceeds of the estate, in part, fund the monarchy. The estate's extensive portfolio is overseen by a semi-independent, incorporated public body headed by the Crown Estate Commissioners, who exercise "the powers of ownership" of the estate, although they are not "owners in their own right". The revenues from these hereditary possessions have been placed by the monarch at the disposition of His Majesty's Government in exchange for relief from the responsibility to fund the Civil Government. These revenues proceed directly to His Majesty's Treasury, for the benefit of the British nation; a percentage of them is then distributed back to the monarch. The Crown Estate is formally accountable to the Parliament of the United Kingdom, where it is legally mandated to provide an annual report for the sovereign, a copy of which is forwarded to the House of Commons. The Crown Estate is one of the largest property managers in the United Kingdom, administering property worth £15.6 billion, with urban properties, valued...