Rule Against Perpetuities
rule against perpetuitiesoften cap R&P
: a common-law rule stating that in order for a future interest to be good it must vest after its creation (as at the death of a testator) within a life in being or lives in being plus 21 years plus the period of gestation of any beneficiary conceived but not yet born compare life in being , statutory rule against perpetuities , wait and see
Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.