District of Columbia § 19-905 Prospective application.

District of Columbia Statutes

§ 19-905 — Prospective application.

District of Columbia·Title 19 Descent, Distribution, and Trusts. [Enacted title]·Ch. 9 Statutory Rule Against Perpetuities; Uniform Law.

(a)Except as extended by subsection (b) of this section, this chapter applies to a nonvested property interest or a power of appointment that is created on or after the effective date of this chapter [April 27, 2001]. For purposes of this section, a nonvested property interest or a power of appointment created by the exercise of a power of appointment is created when the power is irrevocably exercised or when a revocable exercise becomes irrevocable.

(b)If a nonvested property interest or a power of appointment was created before the effective date of this chapter [April 27, 2001] and is determined in a judicial proceeding, commenced on or after the effective date of this chapter [April 27, 2001], to violate the District of Columbia’s rule against perpetuities as that rule existed befor

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(a) Except as extended by subsection (b) of this section, this chapter applies to a nonvested property interest or a power of appointment that is created on or after the effective date of this chapter [April 27, 2001]. For purposes of this section, a nonvested property interest or a power of appointment created by the exercise of a power of appointment is created when the power is irrevocably exercised or when a revocable exercise becomes irrevocable.

(b) If a nonvested property interest or a power of appointment was created before the effective date of this chapter [April 27, 2001] and is determined in a judicial proceeding, commenced on or after the effective date of this chapter [April 27, 2001], to violate the District of Columbia’s rule against perpetuities as that rule existed before the effective date of this chapter [April 27, 2001], a court, upon the petition of an interested person, may reform the disposition in the manner that most closely approximates the transferor’s manifested plan of distribution and is within the limits of the rule against perpetuities applicable when the nonvested property interest or power of appointment was created.

District of Columbia § 19-905 (Prospective application.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.