rule against perpetuities

This law is to invalidate the orders of an individual's will on property after a given time. The specifics are disputed throughout the United States, and there is no exact law that governs the policy in all states. The common law designation is a 21-year limit. This means that property may be held for up to 21 years while no living heir exists. Situations like this are made possible when trustees leave property to nonexistent or not yet existing family members, such as an unborn son or daughter of a family member that is living.

Fast Facts

The first recorded regulations for the extension of wills occurred in 1682, when a Duke left property with inheritance instructions for several generations after his death.
Some states have standing laws that allow a limit of 90 years.

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