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Real Property • The Rule Against Perpetuities
PROP#038
Legal Definition
Under the wait and see approach, courts look to see if the interest actually vests or fails within the perpetuities period. Under USRAP, there are alternative vesting periods (e.g., 90 years).
Plain English Explanation
Because the Rule Against Perpetuities is such a nightmare, many states have decided to get rid of it and, instead, either (a) simply wait and see whether or not an interests actually does fail to happen within 21 years (rather than pre-emptively assuming it will not), or (b) by defining some specific period of time, like 90 years.
Related Concepts
What are common violations 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?
