Section 21209.
21209. (a) If, in measuring a period from the creation of a trust or other property arrangement, language in a governing instrument (1) seeks to disallow the vesting or termination of any interest or trust beyond, (2) seeks to postpone the vesting or termination of any interest or trust until, or (3) seeks to operate in […]
Section 21210.
21210. Except as provided in Sections 21211 and 21212, the time of creation of a nonvested property interest or a power of appointment is determined by other applicable statutes or, if none, under general principles of property law. (Added by Stats. 1991, Ch. 156, Sec. 24.)
Section 21211.
21211. For purposes of this chapter: (a) If there is a person who alone can exercise a power created by a governing instrument to become the unqualified beneficial owner of (1) a nonvested property interest or (2) a property interest subject to a power of appointment described in Section 21206 or 21207, the nonvested property interest […]
Section 21212.
21212. For purposes of this chapter, a nonvested property interest or a power of appointment arising from a transfer of property to a previously funded trust or other existing property arrangement is created when the nonvested property interest or power of appointment in the original contribution was created. (Added by Stats. 1991, Ch. 156, Sec. […]
Section 21220.
21220. On petition of an interested person, a court shall reform a disposition in the manner that most closely approximates the transferor’s manifested plan of distribution and is within the 90 years allowed by the applicable provision in Article 2 (commencing with Section 21205), if any of the following conditions is satisfied: (a) A nonvested property […]
Section 21225.
21225. Article 2 (commencing with Section 21205) does not apply to any of the following: (a) A nonvested property interest or a power of appointment arising out of a nondonative transfer, except a nonvested property interest or a power of appointment arising out of (1) a premarital or postmarital agreement, (2) a separation or divorce settlement, […]
Section 21200.
21200. This chapter shall be known and may be cited as the Uniform Statutory Rule Against Perpetuities. (Added by Stats. 1991, Ch. 156, Sec. 24.)
Section 21201.
21201. This chapter supersedes the common law rule against perpetuities. (Added by Stats. 1991, Ch. 156, Sec. 24.)
Section 21202.
21202. (a) Except as provided in subdivision (b), this part applies to nonvested property interests and unexercised powers of appointment regardless of whether they were created before, on, or after January 1, 1992. (b) This part does not apply to any property interest or power of appointment the validity of which has been determined in a judicial […]
Section 21205.
21205. A nonvested property interest is invalid unless one of the following conditions is satisfied: (a) When the interest is created, it is certain to vest or terminate no later than 21 years after the death of an individual then alive. (b) The interest either vests or terminates within 90 years after its creation. (Added by Stats. […]