Clause Effective Despite Lack of Measuring Lives

A contract for the sale of real property was made contingent on the successful completion of the subdivision of the property into residential building lots.  The contract expressly expired on the last day of the time period permitted by the rule against perpetuities.  In a suit by the purchasers for specific performance the trial court granted summary judgement for the vendors holding that the contract violated the rule against perpetuities. The Court of Special Appeals of Maryland reversed, Cattail Associates v. Sass, 170 Md.App. 474, 907 A.2d 828 (2006) .  Thoroughly discussing the Maryland precedents, the court held that the contract was subject to the rule but that the saving clause was effective, holding that the clause implied that the vendors were the measuring lives.