Rule Against Perpetuities
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Rule Against Perpetuities affects a future interest in property.
The Rule Against Perpetuities does *not* apply to
- a present interest
- a grantor
- a purchase option after a lease term[1]
Summary[edit | edit source]
A future interest that doesn't vest (materialize into possession) within 21 years after the end of some life in being when the future interest is created yields the future interest void in accordance with the rule against perpetuities.
See also[edit | edit source]
References[edit | edit source]
- ↑ "a purchase option that may be exercised after the end of the lease term violates the Rule Against Perpetuities", Restatement (First) of Property, §395 (a) (1944) (“Restatement” §395 (a)”)
