North Dakota § 47-02-27.5 Prospective application

North Dakota Statutes

§ 47-02-27.5 — Prospective application

North Dakota § 47-02-27.5

Title 47Property

Ch. 47-02Classification of Ownership

This text of North Dakota § 47-02-27.5 (Prospective application) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.D. Cent. Code § 47-02-27.5 (2026).

Text

1.Except as extended by subsection 2, sections 47-02-27.1 through 47-02-27.5 apply to a contingent property interest or a power of appointment that is created on or after July 1, 1991. For purposes of this section, a contingent 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.

2.If a contingent property interest or a power of appointment was created before July 1, 1991, and is determined in a judicial proceeding, commenced on or after July 1, 1991, to violate this state's rule against perpetuities as that rule existed before July 1, 1991, a court upon the petition of an interested person may reform the disposition in the manner that most closely

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1. Except as extended by subsection 2, sections 47-02-27.1 through 47-02-27.5 apply to
a contingent property interest or a power of appointment that is created on or after July
1, 1991. For purposes of this section, a contingent 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.
2. If a contingent property interest or a power of appointment was created before July 1,
1991, and is determined in a judicial proceeding, commenced on or after July 1, 1991,
to violate this state's rule against perpetuities as that rule existed before July 1, 1991,
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 contingent
property interest or power of appointment was created.