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King Charles III has formally stripped his younger brother of his royal titles, Buckingham Palace announced Thursday. Prince Andrew, 65, will now be known as 'Andrew Mountbatten Windsor' and will vacate his longtime residence, Royal Lodge, in Windsor. The move marks another chapter in Andrew’s dramatic fall from grace, stemming from his ties to convicted sex offender Jeffrey Epstein — allegations Andrew continues to "vigorously deny". What did Buckingham Palace say? “His Majesty has today initiated a formal process to remove the Style, Titles and Honours of Prince Andrew,” Buckingham Palace said in a statement. The King’s statement added that Andrew’s lease at Royal Lodge will be terminated: “Formal notice has now been served to surrender the lease and he will move to alternative private accommodation. These censures are deemed necessary, notwithstanding the fact that he continues to deny the allegations against him.” The palace said the King’s sympathies “have been, and will remain with, the victims and survivors of any and all forms of abuse.” Which titles were removed? Andrew loses the styles and titles Prince, Duke of York, Earl of Inverness, and Baron Killyleagh, along with the right to be called His Royal Highness. He will also be stripped of the Order of the Garter and "Knight Grand Cross of the Victorian Order". The King will issue royal warrants to the Lord Chancellor, David Lammy, to make the changes official. Where will Andrew live now? Andrew will be reportedly be relocated to the Sandringham estate in Norfolk, though Buckingham Palace has not disclosed which property he will occupy. Formal notice to vacate Royal Lodge was served Thursday, and the move to Sandringham will take place “as soon as practicable,” according to the BBC. What happens to Sarah Ferguson? Andrew’s ex-wife, Sarah Ferguson, 66, will also move out of Royal Lodge. She lost her courtesy title “Duchess of York” earlier this month when Andrew was stripped of his Duke of York title. She has reverted to her maiden name, Ferguson. Will Beatrice and Eugenie lose their titles? Princesses Beatrice and Eugenie will keep their titles. Under King George V’s 1917 decree, they remain princesses as the daughters of a son of a sovereign. Their positions in the royal line of succession — currently ninth and twelfth — will not change, though royal commentator Victoria Murphy told the BBC that they are “low down” and unlikely to take on any official royal duties. Will the King still support Andrew financially? King Charles will privately fund his brother’s accommodation and make “appropriate private provision” for him. Last year, the King reportedly cut off Andrew’s royal funding, pushing him to seek independent business ventures, including partnerships in China and the Gulf States, BBC reports, citing royal sources. Earlier this week, Parliament's spending watchdog, the Public Accounts Committee wrote a letter detailing the "considerable and understandable public interest in the spending of public money" relating to Andrew. What’s next for Andrew Mountbatten Windsor? Andrew remains excluded from royal public duties and attends only private family events. What Led to the King’s Decision? Prince Andrew’s long association with convicted sex offender Jeffrey Epstein remains at the heart of the controversy that prompted King Charles’s latest action. In recent weeks, mounting public and political pressure pushed the monarchy to resolve the issue surrounding the King’s brother. During a recent royal outing, Charles was even heckled by a protester demanding accountability. Although Andrew continues to deny all allegations, the Royal Family has acknowledged what it calls “serious lapses of judgement” in his past conduct. Fresh scrutiny followed the emergence of 2011 emails showing Andrew in contact with Epstein months after he publicly claimed to have cut ties with the financier. The scandal was reignited by the posthumous memoir of Virginia Giuffre, Nobody’s Girl, in which she repeated claims that, as a teenager, she was forced to have sex with Andrew on three occasions - accusations he has always strongly denied.