Rule Against Perpetuities Flashcards
What is the general rule for RAP?
No interest is good unless it must vest, if at all, not later than 21 years after some life in being at the creation of the interest.
What are the 4 steps to solving a RAP problem?
- Does RAP apply?
- Underline the contingent interest.
- Find the measuring life.
- Will we know for sure within 21 years after the measuring life dies, if the condition occurs?
Yes, valid.
No, void.
RAP applies to what interests?
Contingent remainder, vested remainder subject to open, executory interest
How do we find the measuring life?
Turn the contingent interest into a question. Who is in the best position to tell us who ________________ is?
When does creation of the interest by deed occur?
If the contingent interest is created by an irrevocable intervivos transfer, the creation occurs at the tiem of the transder, and the measuring life in being must be a person alive at the time of transfer.
What is the gestation rule?
A child conceived but not yet born will qualify as a life in being at the creation of the interest if later born alive.
When does creation of the interedst by will occur?
If the contingent interest is created by will, the creation occurs at the testator’s death, and measuring life in being must be a person alive at the testator’s death.
If a condition says, “then living,” what does that mean?
Means the person must be living when everyone else in front of them is dead.
What is a life in being?
Those people alive at the time of the conveyance that are somehow connected to it.
What is a measuring life?
A person who can prove that a contingent interest is certain to vest or fail within the permitted time period.
How many measuring lives can there be?
There can be more than one measuring life if there is more than one conveyance
Who can be a measuring life?
A measuring life may be someone not included in the problem.
How does a contingent remainder vest?
Contingent remaindes vest when the persons to take are born and ascertained and when there is no condition precedent.
How do executory interests vest?
Executory interests vest by becoming a vested remainder or by taking possession.
When do vested reaminders subject to open vest?
Vested remainders subject to open are fully vested when they are no longer subject to open (when the class is closed)