HB28 Alabama 2011 Session

Signed by Governor

Bill Summary

Sponsors

Session

Regular Session 2011

Title

Real and personal property, rule against perpetuities, duration of interests prior to vesting, Uniform Statutory Rule Against Perpetuities adopted, common law rule repealed, real and personal property to vest in 100 years, trust up to 360 years, Secs. 35-4A-421 to 35-4A-428, inclusive, added; Sec. 35-4-4 repealed

Description

Under existing law, the common law rule against perpetuities has been adopted by statute in this state and is applicable to real and personal property. Generally, an interest in property is required to vest within a life in being plus 21 years

This bill would substantially adopt the Uniform Statutory Rule Against Perpetuities approved by the National Conference of Commissioners on Uniform State Laws. The permissible vesting period would be 100 years for real and personal property other than a trust. The duration of a trust could not exceed 360 years

To add Chapter 4A to Title 35, Code of Alabama 1975, to enact the Alabama Uniform Statutory Rule Against Perpetuities; to provide for the vesting period of interests in real and personal property and for the duration of trusts; and to repeal Section 35-4-4 of the Code of Alabama 1975.

Subjects

Property, Real and Personal

Bill Actions

Action Date	Chamber	Action
June 2, 2011		Forwarded to Governor at 6:50 p.m. on June 2, 2011.
June 2, 2011		Assigned Act No. 2011-532 on 06/09/2011.
June 2, 2011		Signature Requested
June 2, 2011		Clerk of the House Certification
June 2, 2011		Enrolled
June 2, 2011		Passed Second House
June 2, 2011		Motion to Read a Third Time and Pass adopted Roll Call 963
June 2, 2011		Third Reading Passed
May 5, 2011		Read for the second time and placed on the calendar
April 5, 2011		Re-Referred to Committee on Judicairy.
March 31, 2011		Read for the first time and referred to the Senate committee on Governmental Affairs
March 29, 2011		Cosponsors Added
March 29, 2011		Motion to Read a Third Time and Pass adopted Roll Call 127
March 29, 2011		Third Reading Passed
March 3, 2011		Read for the second time and placed on the calendar
March 1, 2011		Read for the first time and referred to the House of Representatives committee on Judiciary