What Does the Rule against Perpetuities Really Mean?
The common law disfavored property being held perpetually in trust. The purpose of the Rule against Perpetuities, briefly stated, was to foster the marketability of property. In essence, the Rule against Perpetuities voids any agreement that does not conclude 21 years after a life in being or one generation after those lives presently in being, plus 21 years. State law State law on the Rule against Perpetuities varies somewhat from one state to another. Accordingly, the applicable state law should be consulted for further details. Copyright 2010 LexisNexis, a division of Reed Elsevier Inc.
