Rule against Perpetuities
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High Quality Content by WIKIPEDIA articles! The rule against perpetuities at common law invalidates certain future interests that may vest beyond the time of perpetuities. In essence, the rule "limit[s] the testator's power to earmark gifts for remote descendants". The perpetuities period under the common law rule is not a fixed term of years. By its terms, the rule limits the period to at the latest 21 years after the death of the last identifiable individual living at the time the interest was created. This "measuring" or "validating" life need not have been a purchaser or taker in the conveyance or devise.…mehr

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High Quality Content by WIKIPEDIA articles! The rule against perpetuities at common law invalidates certain future interests that may vest beyond the time of perpetuities. In essence, the rule "limit[s] the testator's power to earmark gifts for remote descendants". The perpetuities period under the common law rule is not a fixed term of years. By its terms, the rule limits the period to at the latest 21 years after the death of the last identifiable individual living at the time the interest was created. This "measuring" or "validating" life need not have been a purchaser or taker in the conveyance or devise.