Which statement best describes how statutory reforms such as the Uniform Statutory Rule Against Perpetuities (USRAP) treat property interests that would violate the common-law Rule Against Perpetuities?
Statutory reforms typically preserve such interests for a fixed wait-and-see period (often 90 years) and void them only if they actually fail to vest within that period.
Statutory reforms exempt only charitable trusts from perpetuities limits; non-charitable interests remain void ab initio just as under common law.
Statutory reforms automatically convert offending future interests into vested remainders at the moment of creation, so no interest is ever voided.
Both at common law and under statutory reforms, any interest that could vest outside the perpetuity period is void the moment it is created.
Under the common-law Rule Against Perpetuities, any future interest that is merely capable of vesting beyond a life in being plus 21 years is void from the moment of creation. Modern statutory reforms like USRAP are designed to soften this harsh result. Instead of voiding the interest immediately, USRAP provides a 90-year "wait-and-see" period: the interest is allowed to stand unless it actually fails to vest or terminate within that fixed period. Other statutory tools-such as cy-près or reformation-may also be available, but the key difference is that the interest is not automatically invalid when created.
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What is the 'wait-and-see' approach in the Uniform Statutory Rule Against Perpetuities (USRAP)?
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What is the common-law Rule Against Perpetuities?
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How does the USRAP differ from the cy-près doctrine in handling perpetuities issues?
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Real Property
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