Current Perpetuities Law in the State

Lynn Foster has written an article entitled Fifty-one Flowers: Post-Perpetuities War Law and Arkansas’s Adoption of USRAP, 29 U. Ark. Little Rock L. Rev. 411 (2007).

Here is a summary of the article.

After decades of “perpetuities wars,” the unmodified Uniform Statutory Rule Against Perpetuities (USRAP) is currently the law in roughly one-third of the states. … Example 4: S devised property in trust, directing the trustee to pay income to his children for life, then to divide the corpus among his grandchildren. … A exercised her power of appointment in her will, directing that trust income be paid to her children for their lives, and at their deaths, that corpus be paid to A’s grandchildren. … In dictum, the Arkansas Supreme Court has stated that an option to repurchase, when an owner has conveyed to a buyer but reserves a right to initiate a purchase at a later date, may be subject to the Rule. … First, a court will reform a disposition if a property interest or power of appointment subject to USRAP becomes invalid. … For non-USRAP states, it briefly describes any dynasty or perpetual trust legislation. … Article II, section 29 of Arizona’s Constitution declares that “no hereditary emoluments, privileges, or powers shall be granted or conferred, and no law shall be enacted permitting any perpetuity or entailment in this State.”