Uniform Statutory Rule against Perpetuities Act Law and Legal Definition
Uniform Statutory Rule against Perpetuities Act was drafted by the National Conference of Commissioners on Uniform State Laws (NCCUSL) in 1986. It amended in 1990 by adding Section 1(e). The purpose of the act is to invalidate interests in property that are intended to belong to somebody at a future time, but for which the actual determination of ownership cannot be or will not be accomplished within a specified period of time. The act has been adopted by many states in the U.S. It was adopted by New York and Virgin Islands in 2010. Where the Uniform Probate Code (UPC) is in force, this act may be codified in Article II (as part 9) of the UPC. The Uniform Statutory Rule against Perpetuities eliminates the onerous burdens of the common-law rule without disturbing the basic policy which the common-law rule evolved to serve.
Legal Definition list
- Uniform Statutory Form Power Of Attorney Act
- Uniform Statute of Limitations on Foreign Claims Act
- Uniform Statute and Rule Construction Act
- Uniform Status of Children of Assisted Conception Act
- Uniform Standards of Professional Appraisal Practice
- Uniform Statutory Rule against Perpetuities Act
- Uniform Supervision of Trustees for Charitable Purposes Act
- Uniform Testamentary Additions to Trusts Act
- Uniform TOD Security Registration Act
- Uniform Trade Secrets Act
- Uniform Transboundary Pollution Reciprocal Access Act
