M creates an irrevocable inter vivos trust : "To D for life, then to my first child to reach age 25."
M has three children at the time of the trust H (10), D(15) AND L (20). Who holds what interest and why?
Where the textbook says: although it appears that all three will reach 25 within perpetuities period you cannot use any of them to definitely prove it because each could die before reaching 25, and therefore "there is no validating life among lives in being"
What does validating life mean here?
Another question is :
L deeds her house as : "to A, but if H is ever elected President of US, to H", I thought the interest would not vest during perpetuities period, because there is a chance there H would become president but after the perpetuities period. but once again I am wrong. The textbook says : "The express divesting condition is tied to H, and H is a validating life, and the executory interest must become possessory during H's life, and alternatively it is impossible to conceive a scenario where the executory interest would become possessory but only after the perpetuities period", and therefore the executory does not violate the RAP.
I am completely puzzled....