Rule Against Perpetuities

Question 1

Under common law RAP, when must an interest vest to be valid?

Answer 1

Within a life in being at the time of the grant plus 21 years.

Question 2

When will a class gift become vested under the RAP?

Answer 2

When the class closes and all conditions for every member of the class are satisfied

Question 3

What interests does CL RAP invalidate?

Answer 3

Any interest that will not vest during the 21 year window AND those that hypothetically may not vest within the time period

Question 4

Under modern RAP rules, when is a non-vested property interest invalid?

Answer 4

ONLY IF it actually does not vest within 21 years after the death of a life in being at the time the interest was created.

IOW, this approach waits to see if the interest will actually not vest as opposed to invalidating the interest on the possibility that it will not vest