Code of Alabama - Title 35: Property - Chapter 4A - Alabama Uniform Statutory Rule Against Perpetuities

• Section 35-4A-1 Short title
  This chapter may be cited as the Alabama Uniform Statutory Rule Against Perpetuities.
• Section 35-4A-2 Statutory rule against perpetuities
  (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...
• Section 35-4A-3 When nonvested property interest or power of appointment created
  (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...
• Section 35-4A-4 Reformation
  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...
• Section 35-4A-5 Exclusions from statutory rule against perpetuities
  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...
• Section 35-4A-6 Prospective application
  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...
• Section 35-4A-7 Uniformity of application and construction
  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...
• Section 35-4A-8 Relation to common law
  This chapter supersedes the rule of the common law known as the rule against perpetuities.

Last modified: May 3, 2021