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LSDefine

Simple English definitions for legal terms

perpetuity

Read a random definition: procuratores ecclesiae parochialis

A quick definition of perpetuity:

Perpetuity: Something that goes on forever. In finance, it means getting money regularly for an infinite amount of time. In property law, it's a rule that says no future property interest is valid unless it happens within 21 years after someone dies.

A more thorough explanation:

Perpetuity means something that goes on forever. In finance, it refers to a cash flow that continues indefinitely. This is called an annuity. A perpetuity is an annuity that is paid out in periodic payments for an infinite amount of time. The value of a perpetuity can be calculated using a formula.

An example of a perpetuity is a bond that pays a fixed amount of interest every year, forever. The bondholder will receive the same amount of money every year, without any end date.

In property law, perpetuity is important in the Rule Against Perpetuities. This rule states that no future property interest is valid unless it vests no later than twenty-one years after the death of a person alive at the time the property interest was created. This means that property cannot be tied up in legal limbo for too long.

For example, if someone creates a trust that gives their property to their grandchildren, but only when their grandchildren have children of their own, this would violate the Rule Against Perpetuities. The property would be tied up for too long, and the grandchildren may never have children, leaving the property in legal limbo.

Overall, perpetuity refers to something that goes on forever, whether it's a cash flow or a legal concept.

perpetrator | Person

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windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
7:55
@WorthlessAttractiveZombie: mine did yesterday morning
7:56
Oops sorry I meant Vilanova. Mine disappeared last week
soapy
8:48
UMN under review! As predicted, decisions are gonna come out early December
Minus those random R decisions from UMN yesterday though right? I wonder what happened there. I don’t think I’ve seen a school start the season out with anything but As on here
almost all of my apps have been UR for 6 weeks at this point I feel exhausted waiting for them to finish
Irvine is being snobby and wont start any review until end of Nov.
Yeah, it’s tough. I’m distracting myself by playing good video games after work :)
im distracting myself by schizo-scrolling r/lawschoolamissions and every conceivable data point on this godforsaken website
it is not working
Haaa I naturally want to do that too. I’m trying to stop. They need a surgeon general’s warning on this site for perspective law students
i spend more time on here then anything else trying to rationalize that the waves from last year will match waves for this year (they won't) and that the stats of people with the same stats are indicative of my own (they aren't)
There aren't many people in my stat range so I pretty much know every result in my range after being on here for a few years
9:28
congrats on the 172 bruce
go dawgs fr
9:29
roll tide
do we foresee a fordham election day wave today (i'm delusional)
WorthlessAttractiveZombie
9:31
I think so, Jack
9:31
some people hate him. some people love him, but he a real one: https://youtu.be/w5oEqiVQcF4?t=173
9:32
[kevin oleary]
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