😀
Real Property • The Rule Against Perpetuities
PROP#037
Legal Definition
1. Executory Interests: Executory interests following a defeasible fee are stricken unless limited to the perpetuities period.
2. Open Class: A gift to an open class conditioned on members surviving beyond the age of 21 is stricken.
3. Fertile Octogenarian: A woman is conclusively presumed to be fertile regardless of age or condition.
4. Unborn Widow: Because widows and widowers are not determined until death, it may turn out to be someone not in being at the time of the disposition.
5. Administrative Contingency: A gift conditioned on an administrative contingency (e.g., admission of will to probate) violates the Rule Against Perpetuities.
6. Options and Rights of First Refusal: If structured so it might be exercised later than the end of the perpetuities period, options and rights of first refusal are void, except where held by a current tenant.
2. Open Class: A gift to an open class conditioned on members surviving beyond the age of 21 is stricken.
3. Fertile Octogenarian: A woman is conclusively presumed to be fertile regardless of age or condition.
4. Unborn Widow: Because widows and widowers are not determined until death, it may turn out to be someone not in being at the time of the disposition.
5. Administrative Contingency: A gift conditioned on an administrative contingency (e.g., admission of will to probate) violates the Rule Against Perpetuities.
6. Options and Rights of First Refusal: If structured so it might be exercised later than the end of the perpetuities period, options and rights of first refusal are void, except where held by a current tenant.
Related Concepts
What are common statutory reforms to the Rule Against Perpetuities?
What happens to a transfer if it violates the Rule Against Perpetuities?
What is the Rule Against Perpetuities?
When does the Rule Against Perpetuities begin to run?
Which types of interests does the Rule Against Perpetuities commonly apply to?
Which types of interests does the Rule Against Perpetuities NOT apply to?
