Home  > For Everyone  > Real Estate  > Rule Against Perpetuities  > South Carolina Code 27-6-20. Nonvested property interest or power of appointment 
Search the Code of Laws of South Carolina

South Carolina Code 27-6-20. Nonvested property interest or power of appointment

South Carolina Code > Title 27 > Chapter 6 > § 27-6-20 - Nonvested property interest or power of appointment


Current as of: 2009

(A) A nonvested property interest is invalid unless:

(1) when the interest is created, it is certain to vest or terminate no later than twenty-one years after the death of an individual then alive; or

(2) the interest either vests or terminates within ninety years after its creation.

(B) A general power of appointment not presently exercisable because of a condition precedent is invalid unless:

(1) when the power is created, the condition precedent is certain to be satisfied or become impossible to satisfy no later than twenty-one years after the death of an individual then alive; or

(2) the condition precedent either is satisfied or becomes impossible to satisfy within ninety years after its creation.

(C) A nongeneral power of appointment or a general testamentary power of appointment is invalid unless:

(1) when the power is created, it is certain to be irrevocably exercised or to terminate no later than twenty-one years after the death of an individual then alive; or

(2) the power is irrevocably exercised or terminates within ninety years after its creation.

(D) In determining whether a nonvested property interest or a power of appointment is valid under subsection (A)(1), (B)(1), or (C)(1), the possibility that a child will be born to an individual after the individual's death is disregarded.

previous sectionUniform Statutory Rule Against Perpetuities Table of Contentsnext section
Previous sectionUniform Statutory Rule Against Perpetuities Table of ContentsNext section

________________________________________________________________________

See also:
South Carolina Code > Title 27 > Chapter 6 - Uniform Statutory Rule Against Perpetuities
Comments (0)add comment

Post a comment or question below.
smaller | bigger

busy
 
Email  Email Print  Print   Digg

Alperin Law
Virgina Beach, VA Residential and Commercial Real Estate, Business and Estate Planning Law Firm

4605 Pembroke Lake Circle, Suite 300
Virginia Beach, Virginia 23455
Practice Areas: Real Estate
www.alperinlaw.com/
monotone-frail