Property Ownership
NC's statute against 'perpetuities' affects real estate by limiting:
AHow long a mortgage may run
BHow far in the future property interests may vest — historically preventing interests from remaining contingent for an unreasonable period✓ Correct
CHow long a construction project may take
DThe duration of commercial leases
Explanation
The Rule Against Perpetuities (as modified by NC statute) limits the future vesting of property interests to prevent property from being tied up in uncertainty for excessive periods.
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