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USA Statutes : maine
Title : Title 33. PROPERTY
Chapter : Chapter 05. RULE AGAINST PERPETUITIES
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Title 33 - §101-A. Trusts exempt from rule against perpetuities
Title 33: PROPERTY
Chapter 5: RULE AGAINST PERPETUITIES
§101-A. Trusts exempt from rule against perpetuities
The rule against perpetuities does not apply to a trust created after the effective date of this section if:
[1999, c. 391, §1 (new).]
1. Declaration in instrument. The instrument creating the trust states that the rule against perpetuities does not apply to the trust; and
[1999, c. 391, §1 (new).]
2. Power to sell, lease or mortgage. The trustee or other person to whom the power is properly granted or delegated has the power under the governing instrument,
applicable statute or common law to sell or mortgage property or to lease property for any period of time beyond the period
that is required for an interest created under the governing instrument to vest in order to be valid under the rule against
perpetuities.
[1999, c. 391, §1 (new).]
Section History:
PL 1999,
Ch. 391,
§1
(NEW).
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
Title 33 - §101. Application of rule
Title 33: PROPERTY
Chapter 5: RULE AGAINST PERPETUITIES
§101. Application of rule
In applying the rule against perpetuities to an interest in real or personal property limited to take effect at or after the
termination of one or more life estates in, or lives of, persons in being when the period of said rule commences to run, the
validity of the interest shall be determined on the basis of facts existing at the termination of such one or more life estates
or lives. In this section an interest which must terminate not later than the death of one or more persons is a "life estate"
even though it may terminate at an earlier time.
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
Title 33 - §102. Age may be reduced to 21
Title 33: PROPERTY
Chapter 5: RULE AGAINST PERPETUITIES
§102. Age may be reduced to 21
If an interest in real or personal property would violate the rule against perpetuities as modified by section 101 because
such interest is contingent upon any person attaining or failing to attain an age in excess of 21, the age contingency shall
be reduced to 21 as to all persons subject to the same age contingency.
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
Title 33 - §103. Contingent interests
Title 33: PROPERTY
Chapter 5: RULE AGAINST PERPETUITIES
§103. Contingent interests
A fee simple determinable in land or a fee simple in land subject to a right of entry for condition broken shall become a
fee simple absolute if the specified contingency does not occur within 30 years from the date when such fee simple determinable
or such fee simple subject to a right of entry becomes possessory. If such contingency occurs within said 30 years the succeeding
interest, which may be an interest in a person other than the person creating the interest or his heirs, shall become possessory
or the right of entry exercisable notwithstanding the rule against perpetuities. But if a fee simple determinable in land
or a fee simple in land subject to a right of entry for condition broken is so limited that the specified contingency must
occur, if at all, within the period of the rule against perpetuities, said interests shall take effect as limited. This section
shall not apply where both such fee simple determinable and such succeeding interest, or both such fee simple and such right
of entry are for public, charitable or religious purposes; nor shall it apply to a deed, gift or grant to the State or any
political subdivision thereof.
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
Title 33 - §104. Application of provisions
Title 33: PROPERTY
Chapter 5: RULE AGAINST PERPETUITIES
§104. Application of provisions
This chapter shall apply to both legal and equitable interests.
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
Title 33 - §105. Retroactive effect
Title 33: PROPERTY
Chapter 5: RULE AGAINST PERPETUITIES
§105. Retroactive effect
Except as provided in the first sentence of section 103, this chapter shall not be construed to invalidate or modify the terms
of any limitation which would have been valid prior to August 20, 1955.
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
Title 33 - §106. Instruments affected
Title 33: PROPERTY
Chapter 5: RULE AGAINST PERPETUITIES
§106. Instruments affected
This chapter shall apply only to inter vivos instruments taking effect after August 20, 1955, to wills where the testator
dies after August 20, 1955, and to appointments made after August 20, 1955, including appointments by inter vivos instruments
or wills under powers created before said August 20th.
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
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