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§ 11-103. Application of rule against perpetuities

West's Annotated Code of MarylandEstates and TrustsEffective: October 1, 2019

West's Annotated Code of Maryland
Estates and Trusts (Refs & Annos)
Title 11. Miscellaneous Rules (Refs & Annos)
Subtitle 1. General (Refs & Annos)
Effective: October 1, 2019
MD Code, Estates and Trusts, § 11-103
§ 11-103. Application of rule against perpetuities
Currentness
In general
(a)(1) In applying the rule against perpetuities to an interest limited to take effect at or after the termination of one or more life estates in, or lives of, persons in being when the period of the rule commences to run, the validity of the interest shall be determined on the basis of facts existing at the termination of one or more life estates or lives.
(2) In this section an interest which must terminate not later than the death of one or more persons is a “life estate” even though it may terminate at an earlier date.
Interest contingent upon person attaining a certain age
(b) If an interest would violate the rule against perpetuities as modified by subsection (a) of this section because the interest is contingent upon any person attaining or failing to attain an age in excess of 21, the age contingency shall be reduced to 21 as to all persons subject to the same age contingency.
Legal and equitable interests
(c) This section shall apply to both legal and equitable interests.

Credits

Added by Acts 1974, c. 11, § 2, eff. July 1, 1974. Amended by Acts 2019, c. 197, § 1, eff. Oct. 1, 2019.
Formerly Art. 93, § 11-103.
MD Code, Estates and Trusts, § 11-103, MD EST & TRST § 11-103
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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