perpetuity

Literally, something that lasts forever. In an artificial sense of the term, as used in the law of property, a limitation of a contingent future interest in violation of the rule against perpetuities. A limitation, whether executory or by way of remainder, of either real or personal property, which is not to vest until after expiration of, or will not necessarily vest within, the period fixed and prescribed by law for the creation of future estates and interests, and which is not destructible by persons for the time being entitled to the property subject to the future limitation, except with the concurrence of the individual interested under that limitation. 41 Am J1st Perp § 7. See rule against perpetuities.

Ballentine's law dictionary. . 1998.

Synonyms:

Look at other dictionaries:

  • perpetuity — per·pe·tu·i·ty /ˌpər pə tü ə tē, tyü / n pl ties 1: the quality, state, or duration of being perpetual devised to them in perpetuity 2 a: the condition of a future estate limited in such a way as not to vest within the period fixed by law for the …   Law dictionary

  • Perpetuity — Per pe*tu i*ty, n. [L. perpetuitas: cf. F. perp[ e]tuit[ e].] 1. The quality or state of being perpetual; as, the perpetuity of laws. Bacon. [1913 Webster] A path to perpetuity of fame. Byron. [1913 Webster] The perpetuity of single emotion is… …   The Collaborative International Dictionary of English

  • perpetuity — ► NOUN (pl. perpetuities) 1) the state or quality of lasting forever. 2) a bond or other security with no fixed maturity date. ● in (or for) perpetuity Cf. ↑in perpetuity …   English terms dictionary

  • perpetuity — [pʉr΄pə to͞o′ə tē, pʉr΄pətyo͞o′ə tē] n. pl. perpetuities [ME perpetuite < OFr perpetuité < L perpetuitas] 1. the state or quality of being perpetual 2. something perpetual, as an annuity or pension to be paid indefinitely or, often specif …   English World dictionary

  • Perpetuity — A perpetuity is an annuity that has no definite end, or a stream of cash payments that continues forever. There are few actual perpetuities in existence (although the British government has issued them in the past, and they are known and still… …   Wikipedia

  • Perpetuity — A constant stream of identical cash flows without end, such as a British consol. The New York Times Financial Glossary * * * perpetuity per‧pe‧tu‧i‧ty [ˌpɜːpˈtjuːti ǁ ˌpɜːrpˈtuː ] noun in perpetuity LAW for all future time: • The contract… …   Financial and business terms

  • perpetuity — A constant stream of identical cash flows without end, such as a British consol. Bloomberg Financial Dictionary * * * perpetuity per‧pe‧tu‧i‧ty [ˌpɜːpˈtjuːti ǁ ˌpɜːrpˈtuː ] noun in perpetuity LAW for all future time: • The contract allows them …   Financial and business terms

  • Perpetuity — (Roget s Thesaurus) >Endless duration. < N PARAG:Perpetuity >N GRP: N 1 Sgm: N 1 perpetuity perpetuity eternity everness aye sempiternity immortality athanasia Sgm: N 1 interminability interminability agelessness everlastingness …   English dictionary for students

  • Perpetuity — A constant stream of identical cash flows with no end. The formula for determining the present value of a perpetuity is as follows: This is not as abstract a concept as you may think; the British issued bonds, called consols, which are a great… …   Investment dictionary

  • perpetuity — n. in perpetuity ( forever ) * * * [ˌpɜːpɪ tjuːɪtɪ] in perpetuity ( forever ) …   Combinatory dictionary

  • perpetuity — I (New American Roget s College Thesaurus) Endless duration Nouns perpetuity; everlastingness, unceasingness, etc.; eternity, infinity, aye, timewithout end, sempiternity; deathlessness, immortality, athanasia; incessance, continuity, durability …   English dictionary for students

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.