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12 Cards in this Set
- Front
- Back
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RAP
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no interst in property is valid unless it must vest, if at all no later than 21 years of there the some life in being at the creation of the interest. If there is any possibility that is will no vest then the interest is void. THE RAP is applicable contingent remainders, executory interests, vested remainders subject to peon, options to purchase, and power of appointment
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When does RAP begin to run
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the time the interest is created and perpetuities period being sot run depends on the intruement and the interest created. Examples for will = testators death deeds = delivery irrovaclbe trust = when created recovable trust form date it becomes irrevocable.
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Must Vest
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possessory or indefeasible vested remainder or vested remained subject to total divestment
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Age Contingency Beyond Age Twenty one in open class
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af fit to an open class conditioned on member surfing beyond age 21 violates RAP
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Fertile Octogenarian
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a women is conclusively presumed to be able to bear children despti the age.
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Un born Widow/Widower
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Because person Weido is not determined until his death it maybe turned out to be someone who is not in being at time of disposition.
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administrative Contingency is
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not valid
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oOptions and Rights of First Reuseal
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Generally an option to purchase or right to first refusal that is strutted that it may be excessed beyond perpetuates is void. (does not apply to current tenant)
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BAd As to one bas as to all
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in the interest of any class member may vest tour emotively the whole gift fairl for the class gift to vest the class must be closed and all condition precednet must be satisfied
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Gift to subclass
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maybe treated as a sp class.
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per capita gift excetion
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a gift of a fixed amount is not treated as a class fits.
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Statutory Reforms
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in most states modify RAP. "Wait and see" statutes determine an interest valid upon the termination of the preceding life estate. if the interest actually vest or failrs with the perpetuities period is it good iv no it void
Other states there Uniform sattutoryrule agist pr. provide alternative vesting period. |
