What is the rule against perpetuities?

The rule against perpetuities is a common law concept from England that was incorporated into the real estate laws of Washington. The rule states that an interest in property must end within a certain amount of time and cannot extend into the indefinite future. This means that an interest in property cannot be left in place longer than the expected lifespan of the life or lives in being at the time of the creation of the interest, plus 21 years. For example, if a father wanted to create a trust for his granddaughter which stated that she would receive benefit from the trust for her entire life, then the trust could not be established. This is because the trust would continue beyond the estimated life of the granddaughter and would violate the rule against perpetuities. The purpose of the rule against perpetuities is to ensure that property is not left in a state of limbo and that it can pass on to new owners through the application of wills, trusts, and other forms of ownership. This helps to protect property rights and property values for all involved. The rule against perpetuities is important to understand when creating an estate plan or engaging in real estate transactions in Washington. Understanding how this rule works can help to ensure that property is transferred in a fair and timely manner, while at the same time protecting the rights of all parties.

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