Section 35-4A-1 – Short Title.

Section 35-4A-1 Short title. This chapter may be cited as the Alabama Uniform Statutory Rule Against Perpetuities. (Act 2011-532, p. 880, §1.)

Section 35-4A-2 – Statutory Rule Against Perpetuities.

Section 35-4A-2 Statutory rule against perpetuities. (a) 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 100 years after its creation. (b) […]

Section 35-4A-3 – When Nonvested Property Interest or Power of Appointment Created.

Section 35-4A-3 When nonvested property interest or power of appointment created. (a) Except as provided in subsections (b), (c), and (d) and in Section 35-4A-5, 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 chapter, if there […]

Section 35-4A-4 – Reformation.

Section 35-4A-4 Reformation. Upon the petition of an interested person, a circuit court shall reform a disposition in the manner that most closely approximates the transferor’s manifested plan of distribution and is within the 100 years allowed by Section 35-4A-2(a)(2), (b)(2), or (c)(2) or the 360 years allowed by Section 35-4A-5(9) if: (1) a nonvested […]

Section 35-4A-5 – Exclusions From Statutory Rule Against Perpetuities.

Section 35-4A-5 Exclusions from statutory rule against perpetuities. Section 35-4A-2, the 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) […]

Section 35-4A-6 – Prospective Application.

Section 35-4A-6 Prospective application. This chapter applies to a nonvested property interest or a power of appointment that is created on or after January 1, 2012. For purposes of this section, a nonvested property interest or a power of appointment created by the exercise of a power of appointment is created when the power is […]

Section 35-4A-7 – Uniformity of Application and Construction.

Section 35-4A-7 Uniformity of application and construction. This chapter shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this chapter among states enacting it. (Act 2011-532, p. 880, §1.)

Section 35-4A-8 – Relation to Common Law.

Section 35-4A-8 Relation to common law. This chapter supersedes the rule of the common law known as the rule against perpetuities. (Act 2011-532, p. 880, §1.)