What is the Rule Against Perpetuities?
The Rule Against Perpetuities is a legal rule that prevents property from being given away and held in trust in perpetuity, or forever. It is a rule that is applied in many states in the United States, including Maryland. In simple terms, the Rule Against Perpetuities prevents a person from leaving property to someone who is not yet born. It also, in some cases, prevents someone from leaving property to a living person if the property cannot be fully utilized or claimed until after a certain period of time has passed. The purpose of the Rule Against Perpetuities is to ensure that property is not tied up in an estate and that it is passed on to the rightful heirs in a timely manner. This way, the wealth of an estate is not frozen in time and is able to move from one generation to the next. In Maryland, the Rule Against Perpetuities generally requires that property must pass within 21 years after the death of the testator, or the person making the will. If property passes outside of this 21-year time period, the state may move to contest the validity of the will. The Rule Against Perpetuities is an important law that helps to ensure that property is not tied up in an estate for generations and that it is able to be passed on to the rightful heirs in a timely manner. It is a law that is important for people to be aware of if they are considering making a will.
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