Rule Against Perpetuities
Study the dreaded Rule Against Perpetuities (RAP), the general rule, the estates subject to the rule and when they vest, and the rule’s subtle nuances and potential pitfalls.
Welcome to our clip on the rule against perpetuities!
First, we’ll state the rule and define its general contours. Then, we’ll survey the precise interests that are subject to the rule, and when they are “vested” for purposes of the rule. After that, we’ll use examples to illustrate some of the more subtle nuances and pitfalls with the rule. We’ll discuss what to do when a conveyance is partially (but not entirely) invalidated by the rule, after which we’ll briefly talk about two common...