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See also: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
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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)
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The rule applies to dispositions of See also:personal See also:property (see See also:ACCUMULATION) as well as of real property
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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 See also: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)
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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: The See also:general tendency of See also:American legislation is to favour tying up estates to a greater extent than was formerly approved . |
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