Nebraska Statutes 76-2002. Statutory rule against perpetuities
(a) A nonvested property interest is invalid unless:
Terms Used In Nebraska Statutes 76-2002
- Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
(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 otherwise to terminate no later than twenty-one years after the death of an individual then alive; or
(2) The power is irrevocably exercised or otherwise terminates within ninety years after its creation.
(d) In determining whether a nonvested property interest or a power of appointment is valid under subdivision (a)(1), (b)(1), or (c)(1) of this section, the possibility that a child will be born to an individual after the individual’s death is disregarded.