| 单词 | rule against perpetuities |
| 释义 | rule against perpetuities rule against perpetuities a rule developed by the common law designed to prevent the vesting of future interests in property at a time too remote in the future. As the rule matured, it came to be required that a contingent interest under a settlement or trust, to be valid, was required to vest, if it vested at all, within 'the perpetuity period'. The perpetuity period at common law was a period of a life or lives in being at the date the instrument creating the instrument came into effect plus 21 years. Lives in being could be, and frequently were, expressly nominated in the instrument; if none was so nominated, the period would be measured by reference to implied lives; these were the lives of persons whose existence had an effect on the vest- ing of the interests under the settlement or trust. Where no such implied lives were to be found, the perpetuity period at common law was 21 years from the date of the coming into effect of the instru- ment. Under the Perpetuities and Accumulations Act 1964, a new statutory period of up to 80 years could be employed if expressly provided for in the instrument. |
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