Illinois § 1407 Vesting of any limitation of property

Illinois Statutes

§ 1407 — Vesting of any limitation of property

Illinois·Topic RIGHTS AND REMEDIES·Ch. 760 TRUSTS AND FIDUCIARIES·Act 760 ILCS 3/ Illinois Trust Code.·Art. Article 14 - Perpetuities

(a)This Section may be referred to as the Perpetuities Vesting Law.

(b)The vesting of any limitation of property, whether created in the exercise of a power of appointment or in any other manner, shall not be regarded as deferred for purposes of the rule against perpetuities merely because the limitation is made to the estate of a person or to a personal representative, or to a trustee under a will, or to take effect on the probate of a will.

(c)This Section applies only to limitations created after July 1, 1952.

Free access — add to your briefcase to read the full text and ask questions with AI

(a) This Section may be referred to as the Perpetuities Vesting Law. (b) The vesting of any limitation of property, whether created in the exercise of a power of appointment or in any other manner, shall not be regarded as deferred for purposes of the rule against perpetuities merely because the limitation is made to the estate of a person or to a personal representative, or to a trustee under a will, or to take effect on the probate of a will. (c) This Section applies only to limitations created after July 1, 1952.

Illinois § 1407 (Vesting of any limitation of property) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.