The Rule Against Perpetuities (RAP)

Question 1

Rule Against Perpetuities (RAP)

Answer 1

Certain kinds of future interests are void if there is any possibility, however remote, that the given interest may vest more than 21 years after the death of a measuring life.

Question 2

4 Step RAP Technique

Answer 2

(1) Determine which future interests have been created by the conveyance. The RAP potentially applies ONLY to contingent remainders, executory interests, and certain vested remainders subject to open. The RAP does NOT apply to any future interests in O the Grantor or to indefeasibly vested remainders. OR to vested remainders subject to complete defeasance.
(2) ID the conditions precedent to the vesting of the suspect future interest
(3) Find a measuring life.
(4) Will we know w/certainty w/in 21 years of the death of our measuring life, if our future interest holders can or cannot take?

Question 3

2 Bright Line CL Rules for RAP

Answer 3

(1) A gift to an open class that is conditioned on the members surviving to an age beyond 21 violates the CL RAP (Bad as to one, bad as to all)
(2) Many shifting executory interests violate the RAP. An executory interest w/no limit on the time w/in which it must vest violates the RAP