Rule Against Perpetuities - Related Rules

Related Rules

Jurisdictions may limit usufruct periods. For example, if a corporation builds a ski slope, and gives rights of use (usufruct) as gifts to corporate partners, these cannot last in perpetuity, but must terminate after a period that must be specified, e.g. 10 years. A perpetual usufruct is thus forbidden and "perpetual" might mean a long, but finite period, such as 99 years. Here usufruct is distinct from a share, which may be held in perpetuity.

Read more about this topic:  Rule Against Perpetuities

Famous quotes containing the words related and/or rules:

    In the middle years of childhood, it is more important to keep alive and glowing the interest in finding out and to support this interest with skills and techniques related to the process of finding out than to specify any particular piece of subject matter as inviolate.
    Dorothy H. Cohen (20th century)

    Playing games with agreed upon rules helps children learn to live by rules, establish the delicate balance between competition and cooperation, between fair play and justice and exploitation and abuse of these for personal gain. It helps them learn to manage the warmth of winning and the hurt of losing; it helps them to believe that there will be another chance to win the next time.
    James P. Comer (20th century)