Property Ownership
In Oregon, what is the 'rule against perpetuities' and how does it affect real estate transactions?
AA rule prohibiting permanent liens on property
BA rule that future interests in property must vest within a defined period or they are void, preventing estates from being tied up indefinitely✓ Correct
CA rule against perpetual easements
DA rule preventing homeowners from owning property forever without paying taxes
Explanation
The Rule Against Perpetuities (RAP) prevents property interests from vesting too far in the future. Under the traditional rule, a future interest must vest within a life in being plus 21 years or it is void. Oregon follows modified versions of the RAP. In practice, it affects complex deed conditions and trusts but rarely impacts standard Oregon residential transactions.
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