What is the Rule Against Perpetuities?
The Rule Against Perpetuities is a legal concept related to inheritance law in the state of California. It is a doctrine that restricts certain rights or privileges related to the transfer of property from one person to another. Essentially, it limits the time during which a property or asset can be inherited. The Rule Against Perpetuities states that any property that is intended to be left to someone in a will or other document of inheritance must not remain in its current form for longer than 21 years after the death of the creator of the inheritance. This means that even if someone has put forth a will or other document that calls for the property to be left beyond the 21-year period, that property must be divided up and distributed within the 21-year period. The purpose of the Rule Against Perpetuities is to ensure that an individual is unable to leave a property or asset to someone who is not yet born or to someone who may not be able to take ownership of the property upon their death. The rule also prevents individuals from making promises that may not be able to be fulfilled as time passes, preventing people from manipulating inheritances. Ultimately, the Rule Against Perpetuities is there to protect individuals and to ensure that estates are distributed in a timely manner.
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