Modernizing the Rule Against Perpetuities

Frederick R. Schneider (Professor of Law, Northern Kentucky University – Salmon P. Chase College of Law) has recently published his article entitled A Rule Against Perpetuities for the Twenty-First Century, 41 Real Prop., Prob. & Tr. J. 743 (2007).

Here is the editors’ synopsis of this article:

This Article describes the common law Rule Against Perpetuities and its modern developments, including promulgation of the widely adopted Uniform Statutory Rule Against Perpetuities. The Article also explores the important policies that underlie the Rule Against Perpetuities. The author argues that federal law, including federal transfer taxes, should not and, as a practical matter, cannot be used to implement the policies served by the Rule, but that there is a continuing need for the Rule Against Perpetuities under state law. This Article proposes a Rule Against Perpetuities that replaces the traditional use of lives in being plus twentyone years with a new fixed term of ninety years. The author believes that this proposed Rule Against Perpetuities would eliminate many of the administrative burdens that complicate application of the Rule but would continue to implement its underlying policies.