Babylon 10
The world's best online dictionary

Download it's free

Rule against perpetuities

Wikipedia English The Free Encyclopedia

Download this dictionary
Rule against perpetuities
The common law rule against perpetuities forbids some future interests (traditionally contingent remainders and executory interests) that may not vest within the time permitted; the rule "limit[s] the testator's power to earmark gifts for remote descendants". In essence, the rule prevents a person from putting qualifications and criteria in his/her will that will continue to control or affect the distribution of assets long after he or she has died, a concept often referred to as control by the "dead hand" or "mortmain".

See more at Wikipedia.org...


© This article uses material from Wikipedia® and is licensed under the GNU Free Documentation License and under the Creative Commons Attribution-ShareAlike License

Duhaime.org Legal Dictionary

Download this dictionary
Rule against perpetuities
A common law rule that prevents suspending the transfer of property for more then 21 years or a lifetime plus 21 years. - (read more on Rule against perpetuities)
  

The Lectric Law Library Dictionary

Download this dictionary
Perpetuities, Rule Against
PERPETUITIES, RULE AGAINST - The rule against perpetuities is one of the most complicated parts of estate planning to explain. Basically, common law disfavors and prevents property from being held perpetually in trust, and therefore, voids any agreement (varies from state to state) which does not end twenty-one years after a life in being, or one generation from lives presently in being plus twenty-one years.

Courtesy of the 'Lectric Law Library.