59-3401. Statutory rule against perpetuities. (a) Validity of Nonvested Property Interest. A nonvested property interest is invalid unless: (1) 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; or (2) the interest either vests or terminates within 90 years […]
59-3402. Same; nonvested property interest or power of appointment, creation. (a) Except as provided in subsections (b) and (c) and in subsection (a) of K.S.A. 59-3405, the time of creation of a nonvested property interest or a power of appointment is determined under general principles of property law. (b) For purposes of this act, if […]
59-3403. Same; reformation. Upon the 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 subsections (a)(2), (b)(2) or (c)(2) of K.S.A. 59-3401 if: (1) A nonvested property interest or a power of […]
59-3404. Same; exclusions. K.S.A. 59-3401, statutory rule against perpetuities, does not apply to: (1) 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 (i) a premarital or postmarital agreement, (ii) a separation or divorce settlement, (iii) […]
59-3405. Same; prospective application. (a) Except as extended by subsection (b), this act applies to a nonvested property interest or a power of appointment that is created on or after the effective date of this act. For purposes of this section, a nonvested property interest or a power of appointment created by the exercise of […]
59-3406. Same; short title. This act may be cited as the uniform statutory rule against perpetuities. History: L. 1992, ch. 302, § 6; July 1.
59-3407. Same; uniformity of application and construction. This act shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this act among states enacting it. History: L. 1992, ch. 302, § 7; July 1.
59-3408. Same; supersession. This act supersedes the rule of the common law known as the rule against perpetuities. History: L. 1992, ch. 302, § 8; July 1.
