Chart- Interests Under THE RULE Against Perpetuities PDF

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Summary

Property Law I; Rules Against Perpetuities Chapter Notes...

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Property I Lecture Notes FOCUS: RULES AGAINST PERPETUITIES CHART: INTERESTS UNDER THE RULE AGAINST PERPETUITIES EXAMPLE

VALIDITY

EXPLANATION

1. To A for life, then to A’s children for life, then to B 2. To A for life, then to A’s children for life, then to A’s grandchildren

1. Valid

1. To School Board so long as it is used for a school, then to the Red Cross 2. To School Board so long as it is used for a school, then to A

1. Valid

1. This falls within the charity-charity exception

2. Invalid

2. The interest may vest in A’s heirs or devisees hundreds of years from now (A’s interest is stricken)

1. To B for life, remainder to those of B’s siblings who reach age 21 2. To B for life, then to such of B’s children who become lawyers

1. Valid

1. B’s parents can be used as measuring lives

2. Invalid

2. B may have a child born after the disposition who becomes a lawyer more than 21 years after B’s death

1. To A for life, then to his wife, W, for life, then to A’s surviving children 2. To A for life, then to his widow for life, then to A’s surviving descendants

1. Valid

1. No unborn widow problems because the gift is to W, a life in being 2. Unborn widow problem

2. Invalid

2. Invalid

1. B’s remainder is vested upon creation 2. A may have a child after the interest is created and so may have gc beyond the perpetuities period

1. To X for life, then to Y, 1. Valid but if at her death Y is not survived by children, then to Z 2. To M for life, then to M’s 2. Invalid children for their lives, then to M’s grandchildren.! M is 80 yo and has a hysterectomy

1. Y is the measuring life

1. Trust income to Polo 1. Valid Club. At the death of A, B, C, D, and E (all born today at hospital) corpus 2. Invalid to Z and his heirs 2. The residue of my estate to my descendants who are living when distributed

1. A,B,C,D, and E are measuring lives

2. Fertile Octogenerian Problem

2. Administrative contingency – slothful executor problem...