Title 55, PROPERTY IN GENERAL

55-103. Who may own property. (1) Except as provided in subsection (2) or (3) of this section, any person, whether citizen or alien, may take, hold, and dispose of property, real or personal. (2) Notwithstanding any provision of law to the contrary, on and after the effective dat…

55-104. Interests in common. Every interest created in favor of several persons in their own right is an interest in common, unless acquired by them in partnership, for partnership purposes, or unless declared in its creation to be a joint interest, or unless acquired as communit…

55-105. Future interests — When vested. A future interest is vested when there is a person in being who would have a right, defeasible or indefeasible, to the immediate possession of the property upon the ceasing of the immediate or precedent interest.

55-106. Contingent interests. A future interest is contingent whilst the person in whom, or the event upon which, it is limited to take effect remains uncertain.

55-107. Alternative future interests. Two (2) or more future interests may be created to take effect in the alternative; so that if the first in order fails to vest, the next in succession shall be substituted for it, and take effect accordingly.

55-108. Inheritance by posthumous children. When a future interest is limited to successors, heirs, issue or children, posthumous children are entitled to take in the same manner as if living at the death of their parent.

55-109. Transfer and devolution of future interests. Future interests pass by succession, will and transfer in the same manner as present interests.

55-110. Possibilities. A mere possibility, such as the expectancy of an heir apparent, is not to be deemed an interest of any kind.

55-111. No rule against perpetuities. There shall be no rule against perpetuities applicable to real or personal property.

55-111A. Suspension of power of alienation — Future interest by power of appointment. (1) The absolute power of alienation of property cannot be suspended by any limitation or condition whatever, for a longer permissible period than during the continuance of the lives of the pers…

55-112. Future interests defeated. A future interest, depending on the contingency of the death of any person without successors, heirs, issue or children, is defeated by the birth of a posthumous child of such person capable of taking by succession.

55-113. Future interests not defeated. No future interest can be defeated or barred by any alienation or other act of the owner of the intermediate or precedent interest, nor by any destruction of such precedent interest by forfeiture, surrender, merger or otherwise.

55-114. Future interests not defeated by premature determination of precedent estate. No future interest, valid in its creation, is defeated by the determination of the precedent interest before the happening of the contingency on which the future interest is limited to take effe…

55-115. Prohibitions on LEASE OR PURCHASE OF LAND OR DWELLINGS — within certain geographic boundaries. (1) A foreign principal from a foreign adversary country shall not be allowed to directly or indirectly purchase, hold, rent, or otherwise control any property in Idaho within t…