Title 35 — Title 35

This chapter may be cited as the Alabama Uniform Statutory Rule Against Perpetuities. History: (Act 2011-532, p. 880, §1.)

(a) A nonvested property interest is invalid unless: (1) when the interest is created, it is certain to vest or terminate no later than 21 years after the death of an individual then alive; or (2) the interest either vests or terminates within 100 years after its creation. (b) A …

(a) Except as provided in subsections (b), (c), and (d) and in Section 35-4A-5, the time of creation of a nonvested property interest or a power of appointment is determined under general principles of property law. (b) For purposes of this chapter, if there is a person who alone…

Upon the petition of an interested person, a circuit court shall reform a disposition in the manner that most closely approximates the transferor’s manifested plan of distribution and is within the 100 years allowed by Section 35-4A-2(a)(2), (b)(2), or (c)(2) or the 360 years all…

Section 35-4A-2, the statutory rule against perpetuities, does not apply to: (1) a nonvested property interest or a power of appointment arising out of a nondonative transfer, except a nonvested property interest or a power of appointment arising out of (i) a premarital or postma…

This chapter applies to a nonvested property interest or a power of appointment that is created on or after January 1, 2012. For purposes of this section, a nonvested property interest or a power of appointment created by the exercise of a power of appointment is created when the…

This chapter shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this chapter among states enacting it. History: (Act 2011-532, p. 880, §1.)

This chapter supersedes the rule of the common law known as the rule against perpetuities. History: (Act 2011-532, p. 880, §1.)