Property Ownership
What is the Nevada rule against perpetuities?
AA rule preventing property ownership from lasting forever
BA rule limiting the duration of future interests in property to ensure they vest or fail within 21 years after the death of a relevant life in being✓ Correct
CA Nevada rule against long-term ground leases
DA rule preventing deed restrictions from lasting more than 30 years
Explanation
The rule against perpetuities prevents future property interests from remaining contingent for too long — generally requiring they vest or fail within 21 years after the death of a life in being at the time of creation. Nevada has modified this rule in its statutes to allow certain dynasty trust and other long-term arrangements.
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