What happens if you violate the rule against perpetuities?

Under the cy près doctrine, if the interest does violate the rule against perpetuities, the court may reform the grant in a way that does not violate the rule and reduce any offensive age contingency to 21 years.

How do you explain the rule against a perpetuity?

Simply stated, the Rule Against Perpetuities states that certain interests in property must vest, if at all, within 21 years after the death of a life in being at the time that the interest was created.

What is the rule against perpetuity What are the exception to this rule?

1) Vested interest is not affected by the rule because once the interest are vested it cannot be bad for remoteness. 2) The rule is not applicable to land purchased or held by Corporation. 3) Gift to charities, the rule does not apply to transfer for the benefit of public for religious, pious, or charitable purposes.

What is a measuring life rap?

The measuring lives, or life, are usually persons who are named in the instrument creating the future interest, such as a will or a trust. Frequently the person whose life is used as the measuring life also has a preceding interest in the property, such as a person who is given life estate.

What states still have the rule against perpetuities?

Summary of 50 State Rule Against Perpetuities Laws

What is the wait and see rule?

In all of the jurisdictions that have the rule, there is an exception known as the “wait and see” rule. Basically, that exception allows a distribution (despite the rule against perpetuities) until it becomes evident that the property held on trust must vest outside the 80 year period.

Does the rule against perpetuities still exist?

The common law Rule against Perpetuities is English in origin and was first promulgated centuries ago. The modern version of the Rule has been altered in California by statute. California has enacted the Uniform Statutory Rule Against Perpetuities, which supersedes the old common law rule.

What is rule against property?

Section 14 of the ‘The Transfer of Property Act, 1882’ (TPA) is rightly called ‘Rule against perpetuity’ as it limits the maximum time period beyond which property cannot be transferred. This period is called the perpetuity period, and vesting of the property in the transferee cannot be postponed beyond this limit.

What is doctrine of part performance?

Doctrine of Part Performance is an equitable doctrine and it is incorporated to prevent fraud and from taking illegal advantage on account of non-registration of the document. This Doctrine is based on the maxim, Equity look at as it is done which ought to have been done.

What is the uniform statutory rule against perpetuities?

The Uniform Statutory Rule Against Perpetuities (USRAP) invalidates interests in property that are intended to belong to somebody at a future time, but for which the actual determination of ownership cannot or will not be accomplished within a specific period of time.

Who can use doctrine of part performance?

—Where any person contracts to transfer for consideration any immoveable property by writing signed by him or on his behalf from which the terms necessary to constitute the transfer can be ascertained with reasonable certainty, and the transferee has, in part performance of the contract, taken possession of the …

What is another term for the doctrine of part performance?

Doctrine of Part performance (equitable estoppel)

Is there a rule against perpetuities in property law?

But no property law — indeed, perhaps no other concept studied in law school — is more complicated or dreaded by law students than the rule against perpetuities or the “RAP.” The actual rule is succinct enough: No interest is good unless it must vest, if at all, no later than 21 years after some life in being at the creation of the interest.

How is the rule against perpetuities demystified?

The Rule Against Perpetuities — Demystified! The RAP: “Any interest must vest, if at all, not later than 21 years after a life in being at the creation of the interest.” This short bit of legal prose has terrified law students (and saddled unsuspecting attorneys with malpractice liability) for generations.

How is the rule against perpetuities related to alienation?

Historical background. The rule against perpetuities is closely related to another doctrine in the common law of property, the rule against unreasonable restraints on alienation. Both stem from an underlying principle or reference in the common law disapproving of restraints on property rights.

What is the rule against perpetuities exercises ( with explanations )?

Rule Against Perpetuities Exercises (with Explanations) (1a) O conveys to A and his heirs for so long as alcohol is not sold on the premises; but if alcohol is sold on the premises, then to B and his heirs. In the absence of the RAP, we’d have: O:nada A:fee simple subject to an executory interest