Statutory Rule Against Perpetuities
Applied in 1 court decision — leading case 20 Cal. App. 4th 447 - Wells Fargo Bank v. Marshall (1993)
Most recently applied in 20 Cal. App. 4th 447 - Wells Fargo Bank v. Marshall (November 1993)
Added by Stats. 1991, Ch. 156, Sec. 24.
A nonvested property interest is invalid unless one of the following conditions is satisfied:
(a) When the interest is created, it is certain to vest or terminate no later than 21 years after the death of an individual then alive.
(b) The interest either vests or terminates within 90 years after its creation.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.