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Statutory Rule Against Perpetuities
statutory rule against perpetuities
:a statute setting forth the requirements for the vesting of a future interest in property and superseding the common-law rule against perpetuities
: a uniform statute invalidating a future interest in property that is not certain to vest or terminate within a life in being plus 21 years or that does not vest or terminate within 90 years after its creation
Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.