The Royal Collection, which includes thousands of historic works of art and the Crown Jewels, is not owned by the Queen personally but is held <answer>in trust</answer>, as are her official residences, such as Buckingham Palace and Windsor Castle, and the Duchy of Lancaster, a property portfolio valued in 2014 at £442 million. Sandringham House and Balmoral Castle are privately owned by the Queen. The British Crown Estate – with holdings of £9.4 billion in 2014 – is held <answer>in trust</answer> by the sovereign and cannot be sold or owned by Elizabeth in a private capacity.
How is the British Crown Estate held by Elizabeth?
in trust