What is the Rule Against Perpetuities?
The Rule Against Perpetuities is a legal principle that prevents assets from being tied up in a will forever. It is an important part of inheritance law in Florida. The Rule Against Perpetuities states that in order for a transfer of property to be legally valid, the asset must vest, or become the property of a specific person, within a certain period of time. In Florida, the period of time is generally 21 years after the death of the person making the transfer. The Rule Against Perpetuities is designed to ensure that assets are given to their intended owners and not tied up in a will indefinitely. This prevents the property from being held in trust until a condition that may never be fulfilled is met. It also prevents people from tying up property for generations after their death. Some people may still try to get around the Rule Against Perpetuities, but in Florida, any attempt to do so is considered invalid. This means that the transfer of property will not be legally recognized and will be considered void. The Rule Against Perpetuities is an important part of inheritance law in Florida. It ensures that assets will be given to their intended owners and not held up in a will forever. This helps ensure that assets are given to the people who were intended to receive them, and not to someone who may never have been part of the original plan.
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