Perpetuity in Europe

Definition of Perpetuity

A disposition of property by which its absolute vesting is postponed for ever. Perpetuities are contrary to the policy of the law, because they ” tie up ” property and prevent its free alienation. The rule against perpetuities forbids any disposition by which the absolute vesting of property is or may be postponed beyond the period of the life or lives of any number of persons living at the time of the disposition, and the further period of twenty-one years after the death of the survivor, with the possible addition of the period of gestation. Accordingly a gift to A for life, and after his death to such of his children as shall attain twenty-five would be void for remoteness.
By the Law of Property Act, 1925, s. 163, a limitation or gift, which would be void as depending upon the beneficiary attaining an age exceeding twenty-one years, is to be construed as if the age specified had been twenty-one years. See Cadell v. Palmer

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Definition of Perpetuity is, temporally, from A Concise Law Dictionary (1927). This page needs to be proofread.

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