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LSDefine

Simple English definitions for legal terms

perpetuities, rule against

Read a random definition: partial assignment

A quick definition of perpetuities, rule against:

The rule against perpetuities is a legal rule that limits the time that property can be held without an owner who has the right to sell or use it. The rule states that any interest in property must vest, or become effective, within 21 years after the death of a person who was alive when the interest was created. If the interest does not vest within this time, the gift or transaction is void. The purpose of the rule is to prevent property from being held out of commerce for too long.

A more thorough explanation:

Definition: The rule against perpetuities is a common-law rule that prohibits a grant of an estate unless the interest must vest, if at all, no later than 21 years (plus a period of gestation to cover a posthumous birth) after the death of some person alive when the interest was created. The purpose of the rule is to limit the time that title to property could be suspended out of commerce because there was no owner who had title to the property and who could sell it or exercise other aspects of ownership. If the terms of the contract or gift exceeded the time limits of the rule, the gift or transaction was void.

Examples:

  • John creates a trust that will give his property to his grandchildren, but only if they graduate from college. The youngest grandchild is currently 10 years old. This trust violates the rule against perpetuities because it is possible that the youngest grandchild may not graduate from college until more than 21 years after the death of John.
  • Emily creates a will that leaves her property to her great-grandchildren. The youngest great-grandchild is currently 5 years old. This will violates the rule against perpetuities because it is possible that the youngest great-grandchild may not be born until after 21 years after the death of Emily.

These examples illustrate how the rule against perpetuities limits the time that title to property can be suspended out of commerce. In both cases, the terms of the gift exceed the time limits of the rule, making the gift or transaction void.

perpetuation of testimony | perpetuity of the king

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i have a brother named jack, so whenever i see your name im marginally happier than normal
babycat
16:37
I'm guessing you don't have a sibling named babycat but I hope I still make you marginally happier than normal despite this
JumpySubsequentDolphin
16:38
maybe he has a babycat
babycat
16:38
I think everyone should have a babycat
JumpySubsequentDolphin
16:39
im allergic to baby cats >:(
JumpySubsequentDolphin
16:40
I used to have a babycat, I only got allergies after he died
JumpySubsequentDolphin
16:40
I think he’s haunting me
babycat
16:40
:(
babycat
16:40
that's too bad
babycat
16:40
you still have me though <3
@babycat: you make my day marginally happier with your scathing wit
16:43
New Father John Misty album out today
16:44
People saying it’s his best yet by far
babycat
16:45
what would I do without you renard99
awww ty wasp :)
i have 4 (baby) cats!
16:46
Damn you know her sarcasm is meant to be scathing when she calls me by my full username and not just Renard
JumpySubsequentDolphin
16:47
@jackfrost11770: FOUR?!??
16:48
I’m only teasing Babycat ily I’ll be seeing you in [REDACTED] very very soon
YES
and they're all rescues from breeders so they're all long haired persians .... w flat faces ....
they're all runts cause breeders just ... dispose of them (:(((() so they're all super tiny
literal babies
babycat
16:49
ily2 renard99
initiallaw
16:49
omg so cute
JumpySubsequentDolphin
16:51
@jackfrost11770: IM SO JEALOUS
2big2fail
16:52
perhaps peggerdine this evening
2big2fail
16:52
but then again, perhaps not
JumpySubsequentDolphin
16:53
damn no ucla wave
16:56
Hey guys! chance me 340/340GRE- 2 years work experience at PIL and wrote compelling statements. but my masters gpa is kinda 3.1 because I was domestically abused. :p
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