Royals are always, always, always, a King, Queen, Prince, or Princess. More often then not they are born into this title. Royals are usually very wealthy, with loads of servents, maids, stablehands, cooks, and the like to maintain thier houses. They reside in the capital of each Kingdom, occupying the most well-kept castle.
Royals create and/or change the laws of thier lands to thier desire, as long as the 'Royal Council' approves. They make the main descisions when it comes to building, agriculture, and warfare.
A Royal is very rarely demoted, but some choose to step down from thier title and live a more peaceful life. In these cases they are allowed to bring a small amount of thier treasury along with them, and will usually gain the status of Noble.
Royals have many obligations, and are taught how to behave properly and mannerly at a very young age, and most Royal children are wed by arranged marriage, as no one wishes for a Prince to marry an improper farmer's daughter, or the like.
Royals are the top of the heap for Status, and cannot be upped anymore. Royals rarely loose thier titled untill death. Which, of course, can come early with the amount of sinister cousins and derragned assassins out there.