Sunday, September 14, 2014

Rule against perpetuities

The rule against perpetuities says: 

Any valid interest must vest not later than twenty-one years after the death of some life in being at the creation of the interest.

 For the purposes of the rule, a life is "in being" at conception. 

Recognizing a life "in being" is a life span of an individual plus nine months (at the most) the rule limits vesting to say 90 years (at highest) plus 21 years or about 111 years. 

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