§ 9-1.1 Rule against perpetuities\n (a) (1) The absolute power of alienation is suspended when there are\nno persons in being by whom an absolute fee or estate in possession can\nbe conveyed or transferred.\n (2) Every present or future estate shall be void in its creation which\nshall suspend the absolute power of alienation by any limitation or\ncondition for a longer period than lives in being at the creation of the\nestate and a term of not more than twenty-one years. Lives in being\nshall include a child conceived before the creation of the estate but\nborn thereafter. In no case shall the lives measuring the permissible\nperiod be so designated or so numerous as to make proof of their end\nunreasonably difficult.\n (b) No estate in property shall be valid unless it must vest, if at\nall, not later than twenty-one years after one or more lives in being at\nthe creation of the estate and any period of gestation involved. In no\ncase shall lives measuring the permissible period of vesting be so\ndesignated or so numerous as to make proof of their end unreasonably\ndifficult.\n
‹ Prev All New York sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.