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PERPETUITY (Lat. perpetuus, continuous)

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Originally appearing in Volume V21, Page 182 of the 1911 Encyclopedia Britannica.
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PERPETUITY (See also:Lat. perpetuus, continuous) , the See also:state of being perpetual or continuing for an indefinite See also:time; in See also:law the tying-up of an See also:estate for a lengthened See also:period, for the purpose of preventing or restricting See also:alienation. As being opposed to the See also:interest of the state and individual effort, the creation of perpetuities has been considerably curtailed, and the See also:rule against perpetuities in the See also:United See also:Kingdom now forbids the making of an executory interest unless beginning within the period of any fixed number of existing lives and an additional period of twenty-one years (with a few months added, if necessary, for the period of gestation). The rule applies to dispositions of See also:personal See also:property (see See also:ACCUMULATION) as well as of real property. There are certain exceptions to the rule, as in the See also:case of limitations in See also:mortmain and to charitable uses, and also in the case of a perpetuity created by See also:act of See also:parliament (e.g. the estate of See also:Blenheim, settled on the See also:duke of See also:Marlborough, and Strathfieldsaye on the duke of See also:Wellington). In the United States the See also:English See also:common-law rule against perpetuities obtains in many of the states; in others it has been replaced or reinforced by statutory rules (see See also:Gray on Alienation, § 42). Charities may be established in perpetuity, and See also:provision may be made for an accumulation of the funds for a reasonable time, e.g. for Too years (Woodruff v. See also:Marsh, 63 See also:Conn. See also:Rep. 125; 38 Amer. St. Rep. 346).

The See also:

general tendency of See also:American legislation is to favour tying up estates to a greater extent than was formerly approved.

End of Article: PERPETUITY (Lat. perpetuus, continuous)

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