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Originally Posted by Mapple
If the Duke of Cornwall has no surviving legitimate issue, either male or female, the next eldest brother becomes the Duke of Cornwall.
The ducal title reverts to the Crown.
Yes, immediately upon King Edward VII's accession he became the Duke of Cornwall (actually George was holding two dukedoms, that of Cornwall and York, then). He was invested as the Prince of Wales later in the year.
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Actually George V was never invested as POW in the way that either
Edward VIII or Prince Charles was. He was created POW on his father's birthday in 1901. Invested, to me, means some form of official ceremony, whereas created is simply the issuing of the Letters Patent, which is what happened in 1901. His father never had an investiture either.
He had come to Australia that year to open our first ever federal parliament as the Duke of Cornwall and York (up until the Queen's death it was expected that he would by only Duke of York when he opened the parliament but he had both titles by then).