Answer:
A Common Good Fund in Scotland is a fund that was created in local areas over the years by those living in certain areas that have such a fund either by leaving their estate to the fund or making donations to the fund. The funds are for the benefit for the common good of the people living in a specific geographical area that the fund was established for. Before there was a law passed people would leave normally their estates for the benefit of the people of the area that the deceased person lived in and who had no heirs. The first law on Common Good Funds was passed by King James IV in 1491. This was incorporated in the Act of Union between Scotland and England in 1707. Under the Local Government Act 1973 addressed the modern day administration of the funds but they could not fully change the original law as this would have meant a fundamental change of the Act of Union. The funds are administered by local authorities in Scotland who have such a fund in their area, managed on behalf of the people who legally own the fund not the authority. Most Common Good Funds can be found where an area in Scotland holds the charter and title of a Royal Burgh.