Pennsylvania Abolishes Rule Against Perpetuties

Starting January 1, 2007, the Rule Against Perpetuties is abolished in Pennsylvania.

Here is the language of the new statute, § 6107.1(b):

All of the following apply to every interest created after December 31, 2006:

(1) No interest shall be void as a perpetuity.
(2) No direction or authorization to accumulated income shall be void as a perpetuity

2006 Pa. Legis. Serv. Act 2006-98.