- Rules Furthering Marketability, 345-349
- Common Law Rule, 349-352
- Jee v. Audley, 352-354
- Problems, 357-359
- Perpetuity Reform Movement, 373-377 (skim)
- Texas Rule Against Perpetuity
The lecture notes are here.
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.
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.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.