Prop1 Class 17 – Rule Against Perpetuities

October 15th, 2013

The lecture notes are here, and the live chat is here. Thankfully, Texas has abolished the Rule in Shelley’s case, the Doctrine of Worthier Title, and the Rule Forbidding a Remainder in the Grantor’s Heirs. This is the Texas Rule Against Perpetuities.

RULE AGAINST PERPETUITIES. The rule against perpetuities applies to trusts other than charitable trusts. Accordingly, an interest is not good unless it must vest, if at all, not later than 21 years after some life in being at the time of the creation of the interest, plus a period of gestation. Any interest in a trust may, however, be reformed or construed to the extent and as provided by Section 5.043.

In case you were wondering, the youngest mother on record is five-years old. And in a bizarre case, a man adopted his girlfriend to protect his assets.

And, if you hate the Rule against Perpetuities, blame this guy. Orlando Bridgeman, whose crazy conveyances raised the possibility of perpetuity, which led to the creation of the Rule Against Perpetuities. bridgeman Don’t blame me. Blame Orlando. Note: The Rule Against Perpetuities will not be tested on the final examination. In other words, this is a wrap for RAP.