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.