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3 Cards in this Set
- Front
- Back
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What is the rule against suspension of the power of alienation?
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Any interest is void if it suspends the power of alienation for a period longer than lives in being plus 21 years (LIB + 21), that is, when there are no persons who could, together, transfer fee simple title.
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When are there two times suspension of alienation is a concern?
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1. Spendthrift income interests because they prevent alienation; AND
2. A life estate in an unborn person or an open class that may possibly include unborn persons |
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How doe RAP apply to NY trusts?
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- Any interest that could vest any later than any LIB at creation of the interest +21 is void.
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