He had already in 1909 been given a life peerage under the Appellate Jurisdiction Act 1876 as Baron Shaw, of Dunfermline in the County of Fife.
On his death in 1937 the life peerage became extinct while he was succeeded in the hereditary barony by his son, the second Baron.
As of 2009[update], the title is held by the latter's grandson, the fourth Baron, who succeeded his father in 1998.
The heir apparent is the present holder's son Hon.
The 4th Baron Craigmyle has expressed some sympathy for the Freemen on the land movement, which led to his receiving tens of thousands of oaths of loyalty based on article 61 of Magna Carta.