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Author Topic: Requesting Help with the Rule Against Perpetuities  (Read 2570 times)

jerkstore99

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Requesting Help with the Rule Against Perpetuities
« on: October 19, 2004, 04:33:07 PM »
If there is anybody that can help me with this topic in Real Property, I would appreciate it.  If you had a flow chart as to howe to analyze this problem, that would be so helpful.

Thank you all for your time.

zippy_zaboo

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Re: Requesting Help with the Rule Against Perpetuities
« Reply #1 on: October 19, 2004, 07:35:39 PM »
post the problem...
 

Burning Sands

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Re: Requesting Help with the Rule Against Perpetuities
« Reply #2 on: October 19, 2004, 11:48:40 PM »
If there is anybody that can help me with this topic in Real Property, I would appreciate it.  If you had a flow chart as to howe to analyze this problem, that would be so helpful.

Thank you all for your time.

Do you have a RAP problem in particular or are you just talking about the general concept of RAP, acting before the 20 years is up, etc.?
Burning Sands

IHEARTLS

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Re: Requesting Help with the Rule Against Perpetuities
« Reply #3 on: October 20, 2004, 01:21:11 AM »
I hate RAP!  I still get confused on how to determine whether or not someone is a validating life for another person that has a future interest.  I'm with the OP...if anyone has a chart or something that says, "If X, then Y," let me know.

We have now moved on to Marital Estates and Concurrent Estates and I'm concerned about the fact that I have yet to master RAP.


diego187

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Re: Requesting Help with the Rule Against Perpetuities
« Reply #4 on: October 20, 2004, 02:30:28 AM »
If there is anybody that can help me with this topic in Real Property, I would appreciate it.  If you had a flow chart as to howe to analyze this problem, that would be so helpful.

Thank you all for your time.

Do you have a RAP problem in particular or are you just talking about the general concept of RAP, acting before the 20 years is up, etc.?


I believe it is 21 years

Burning Sands

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Re: Requesting Help with the Rule Against Perpetuities
« Reply #5 on: October 21, 2004, 02:20:36 PM »
If there is anybody that can help me with this topic in Real Property, I would appreciate it.  If you had a flow chart as to howe to analyze this problem, that would be so helpful.

Thank you all for your time.

Do you have a RAP problem in particular or are you just talking about the general concept of RAP, acting before the 20 years is up, etc.?


I believe it is 21 years


Sorry, that is correct, 21 years for RAP, 90 years for USRAP. Everybody uses Trusts anyway so RAP is kinda antiquated.

Burning Sands

camelbx

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Re: Requesting Help with the Rule Against Perpetuities
« Reply #6 on: October 25, 2004, 12:53:59 AM »
Sho,

Parts to RAP [common-law, pre-USRAP]:

Might it [the Contingent remainder, vested remainder subject to open, or executory interest]

vest [become possessory or class close]

too late [21 years beyond the death of every life in being]


Example:

O to A for life; then X; then to X's children.

Since the Vested Remainder subject to Open in FSA will vest upon X's death [or not vest and revert to O] this conveyance does not violate RAP.

If you did:

O to A for life; then to X, then to X's children who reach 30.

You see that after you kill off all the LIBs you /could/ be left with children of X who are under 30 but could reach 30, so it ///could/// remain subject to open 21 years after X's death. And thus violate common-law RAP.