rule against perpetuities

(redirected from Wait and See Statutes)
Also found in: Legal.

Rule Against Perpetuities

The legal concept forbidding a testator from leaving portions of his/her estate unvested in a beneficiary after a certain number of years. The rule against perpetuities disallows an estate from holding back certain assets for descendants who will not be born for several generations. While it is part of the common law, not all jurisdictions have a rule against perpetuities. Among those that do have it, the rule begins to apply between 20 and 90 years after a person's death. See also: Rule against accumulations.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

rule against perpetuities

See perpetuity.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.