释义 |
rule against perpetual trusts The rule that prohibits non-charitable trusts from lasting beyond the perpetuity period. At common law the perpetuity period is a life in being plus 21 years (or just 21 years when there is no life in being, e.g. a non-charitable purpose trust). The Perpetuities and Accumulations Act 2009 introduced a perpetuity period of 125 years for trusts created after 6 April 2010. Section 18 of the 2009 Act provides that non-charitable purpose trusts remain subject to a perpetuity period of 21 years. Compare rule against inalienability; rule against perpetuities. |