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The rule against perpetuities serves a number of purposes. First, English courts have long recognized that allowing owners to attach long-lasting contingencies to their property harms the ability of future generations to freely buy and sell the property, since few people would be willing to buy property that had unresolved issues regarding its ownership hanging over it.
Duke of Norfolk's Case (1682) 3 Ch Cas 1; 22 ER 931 is an important legal judgment of the House of Lords that established the common law rule against perpetuities.The case related to establishing inheritance for grandchildren of Henry Howard, 22nd Earl of Arundel including grandchildren who were not yet born.
The Perpetuities and Accumulations Act 2009 (c. 18) is an Act of the Parliament of the United Kingdom that reforms the rule against perpetuities. The Act resulted from a Law Commission report published in 1998. [3] It abolishes the rule against perpetuities in most non-trust contexts, such as easements. [3]
The rule against perpetuities is an example of how older property laws can influence how families transfer and inherit property rights. Well-meaning grantors create wills defining their wishes …
The clause became part of contractual drafting in response to common law rule developed by the courts known as the rule against perpetuities. [note 1] That rule provided that any future disposition of property must vest within "a life in being plus 21 years". The rule generally affects two types of transactions: trusts and options to
The Perpetuities and Accumulations Act 1964 (c. 55) is an act of the Parliament of the United Kingdom. In English land law it reformed the rule against perpetuities.
That might violate a legal principle known as the rule against perpetuities, a question on which, I gather, is a fixture on bar exams the world over. If you'd like to know how the rule can ...
Henry Frederick Howard, 15th Earl of Arundel PC(Ire) (15 August 1608 – 17 April 1652), styled Lord Maltravers until 1640, and Baron Mowbray from 1640 until 1652, was an English nobleman, chiefly remembered for his role in the development of the rule against perpetuities.