friend dating advice - Validating life in rule against perpetuities

by  |  09-Dec-2017 05:38

The rule against perpetuities, then, was designed to insure that some person would actually own the land within a reasonable period of time after the death of the transferor.To accomplish that result, the rule stated that no interest in property would be valid unless it could be shown that the interest would vest, if at all, no later than 21 years after some life in being at the creation of the interest.

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It's origin stems from the days of feudal England - some say as early as 1680 - when landowners often tried to control the use and disposition of property beyond the grave - a concept often referred to as control by the "dead hand."The rule against perpetuities was intended to prevent people from tying up property - both real and personal - for generation after generation.

In feudal England, the practice was to put land in trust in perpetuity, with succeeding generations living off the land without actually owning it.

Therefore, in the United States it has been abolished by statute in Alaska, Idaho, New Jersey, Pennsylvaniaand South Dakota.

The Uniform Statutory Rule Against Perpetuities validates non-vested interests that would otherwise be void under the common law rule if that interest actually vests within 90 years of its creation; it has been enacted in 26 states (Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Florida, Georgia, Hawaii, Indiana, Kansas, Massachusetts, Minnesota, Montana, Nebraska, Nevada (365 years), New Jersey, New Mexico, North Carolina, North Dakota, Oregon, South Carolina, South Dakota, Tennessee, Utah, Virginia, Washington, West Virginia), the District of Columbia and the U. Virgin Islands, and is currently under consideration in New York.

The gift is void under the rule against perpetuities because (a) it is possible that Joseph will have children during his lifetime and (b) if he does, there is no certainty that any of them will marry within 21 years after Joseph's death.3.

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