Property Ownership
Missouri's 'Rule Against Perpetuities' affects real estate by:
APreventing property from appreciating too rapidly
BLimiting how far into the future property interests can be created, preventing property from being tied up indefinitely✓ Correct
CRequiring property to be sold every 21 years
DPreventing corporations from owning land
Explanation
The Rule Against Perpetuities (now often modified by statute) prevents property interests from vesting too remotely in the future. Missouri has modernized its RAP to prevent property from being encumbered by contingent future interests indefinitely.
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Key Terms to Know
Deed
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EasementA non-possessory right to use another person's land for a specific purpose.
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
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