What is the rule against perpetuities?

The rule against perpetuities is a common law principle that prevents property from being held in trust in perpetuity, or for a period of more than 21 years plus the life of a person alive at the time the trust is created. This rule applies to all property rights in Alaska and is a general legal principle that extends across many areas of law. The purpose of this rule is to ensure that property rights are not excessively restricted and that the free transfer of property is allowed. The rule ensures that no one is able to hold property rights for an indefinite period of time and that rights do not extend beyond the life of a living person. In Alaska, the rule is applied to all trusts, resulting in interests being settled within the 21-year period. The rule also applies to other property interests, such as those created by a will, a deed, or a contract. Generally, if a contract, deed, or will contains language that restricts the transfer of property beyond 21 years, the language will be declared invalid. In summary, the rule against perpetuities in Alaska is an important legal principle that prevents property rights from being held in perpetuity, or beyond the life of a living person. This rule ensures that property rights are not excessively restricted and that the free transfer of property is allowed.

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What is the rule against perpetuities?

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