New Hampshire § 547:3-k Exemption from the Rule Against Perpetuities

New Hampshire Statutes

§ 547:3-k — Exemption from the Rule Against Perpetuities

New Hampshire·Title LVI PROBATE COURTS AND DECEDENTS' ESTATES·Ch. 547 JUDGES OF PROBATE AND THEIR JURISDICTION·Subdivision Jurisdiction

The probate court shall not apply the common law rule against perpetuities to any disposition of property or interest therein, created after the effective date of this section, if:

I.The instrument making the disposition or creating the interest contains a provision which expressly exempts the instrument from the application of the rule against perpetuities; and

II.The trustee, or other person to whom the power is properly granted or delegated, has the power under the governing instrument, applicable statute, or common law, to sell, mortgage, or lease property for any period of time beyond the period that is required for an interest created under the governing instrument to vest in order to be valid under the rule against perpetuities.

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

The probate court shall not apply the common law rule against perpetuities to any disposition of property or interest therein, created after the effective date of this section, if:
I. The instrument making the disposition or creating the interest contains a provision which expressly exempts the instrument from the application of the rule against perpetuities; and
II. The trustee, or other person to whom the power is properly granted or delegated, has the power under the governing instrument, applicable statute, or common law, to sell, mortgage, or lease property for any period of time beyond the period that is required for an interest created under the governing instrument to vest in order to be valid under the rule against perpetuities.

New Hampshire § 547:3-k (Exemption from the Rule Against Perpetuities) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.