Tuesday, March 31, 2015

SECTION 2-906 Uniform Probate Code

SECTION 2-906. [SUPERSESSION.] [REPEAL.] [Subpart] 1 of this [part] [supersedes the rule of the common law known as the rule against perpetuities] [repeals (list statutes to be repealed)].
The first set of bracketed text is provided for states that follow the common-law Rule Against Perpetuities. The second set of bracketed text is provided for the repeal of statutory

adoptions of the common-law Rule Against Perpetuities, statutory variations of the common-law Rule Against Perpetuities, or statutory prohibitions on the suspension of the power of alienation for more than a certain period. Some states may find it appropriate to enact both sets of bracketed text by joining them with the word “and.” This would be appropriate in states having a statute that declares that the common-law Rule Against Perpetuities is in force in the state except as modified therein.
A cautionary note for states repealing listed statutes: If the statutes to be repealed contain exclusions from the rule against perpetuities, states should consider whether to repeal or retain those exclusions, in light of Section 2-904(7), which excludes from the Uniform Statutory Rule property interests, powers of appointment, and other arrangements “excluded by another statute of this state.” 

No comments: