Rule Against Perpetuities 1: Common Law Rule Against Perpetuities

This lesson is designed to introduce the novice to the essential concepts of the common law Rule Against Perpetuities. It is presumed the reader has a basic understanding of estates and future interests. This Lesson is designed, also, to help the student develop an analytical approach to solve problems arising under the rule.

Learning Outcomes

On completion of the lesson, the student will be able to:

1. State the common law Rule Against Perpetuities accurately.
2. Identify the elements of the common law Rule Against Perpetuities.
3. List all interests to which the common law Rule Against Perpetuities applies.
4. Recognize when interests, to which the common law Rule Against Perpetuities applies, are created.
5. Define a "life in being" under the common law Rule Against Perpetuities.
6. Recognize when an interest, to which the common law Rule Against Perpetuities applies, might/might not become vested.
7. Determine what becomes of an interest that is not "good" under the common law Rule Against Perpetuities.