rule against perpetuities
- The rule which prohibits the creation of future interests or estates which by possibility may not become vested within a life or lives in being at the time of the testator's death or the effective date of the instrument creating the future interest, and twenty-one years thereafter, together with the period of gestation when the inclusion of the latter is necessary to cover cases of posthumous birth. 41 Am J1st Perp § 3.
Ballentine's law dictionary. Anderson, W.S.. 1998.
Look at other dictionaries:
rule against perpetuities — often cap R&P: a common law rule stating that in order for a future interest to be good it must vest after its creation (as at the death of a testator) within a life in being or lives in being plus 21 years plus the period of gestation of any… … Law dictionary
Rule against perpetuities — The rule against perpetuities is a rule of law in effect under the property, trusts, estate, and contract law of many common law jurisdictions. The rule invalidates certain future interests (traditionally contingent remainders and executory… … Wikipedia
rule against perpetuities — Principle that no interest in property is good unless it must vest, if at all, not later than 21 years, plus period of gestation, after some life or lives in being at time of creation of interest. Perkins v. Iglehart, 183 Md. 520, 39 A.2d 672,… … Black's law dictionary
rule against perpetuities — noun a) The rule that prevents a testator or other transferor of property from controlling further transfer of his property more than twenty one years after the death of anyone alive at the time of the original transfer who may have some interest … Wiktionary
rule against perpetuities — a rule at common law that makes void any estate so limited that it will not necessarily take effect or vest within a life or lives in being at the time of the creation of the estate and 21 years thereafter with the addition of the period of… … Useful english dictionary
Illustrations of the rule against perpetuities — Property law Part of … Wikipedia
statutory rule against perpetuities — statutory rule against perpetuities: a statute setting forth the requirements for the vesting of a future interest in property and superseding the common law rule against perpetuities; esp: a uniform statute invalidating a future interest in… … Law dictionary
rule against accumulations — A principle that prohibits adding income or interest earned by a trust back into the principal of the fund beyond the time allowed by the rule against perpetuities. Dictionary from West s Encyclopedia of American Law. 2005. rule against… … Law dictionary
perpetuities, rule against — See perpetuity rule (rule against perpetuities) … Black's law dictionary
rule against suspension of power of alienation — A rule under statute, distinct from the rule against perpetuities, which prohibits the imposing of conditions in rendering property inalienable beyond a period fixed by the statute. 41 Am J1st Perp § 2 … Ballentine's law dictionary