HB1130: Prohibition of perpetual transfers

Thanks to Sen. Robert Thompson, my bill codifying the Uniform Statutory Rule Against Perpetuities passed the Senate this afternoon. It now comes back to the House to concur in this Amendment.

Here is a previous entry on the blog about this one, and it goes a long way in allowing Courts to reform mistakes made in instruments conveying a future interest. Currently, the common law rule ties the Court's hands from being able to carry out the wishes of the testator/settlor.