Motion to Read a Third Time and Pass
Yes
35
SB105 Alabama 2011 Session
Updated Jul 26, 2021
SB105 Alabama 2011 Session
Senate Bill
Expired
Current Status
Regular Session 2011
Session
1
Sponsor
Summary
- Primary Sponsor
-
Ben H. BrooksRepublican - 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duration of interests prior to vesting, Uniform Statutory Rule Against Perpetuities adopted, common law rule repealed, real and personal property to vest in 100 years, trust up to 360 years, Secs. 35-4A-421 to 35-4A-428, inclusive, added; Sec. 35-4-4 repealed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.
- Subjects
- Property, Real and Personal
Bill Actions
Pending third reading on day 24 Favorable from Judiciary
Read for the second time and placed on the calendar
Read for the first time and referred to the House of Representatives committee on Judiciary
Motion to Read a Third Time and Pass adopted Roll Call 74
Third Reading Passed
Read for the second time and placed on the calendar
Read for the first time and referred to the Senate committee on Judiciary
Bill Text
Votes
Documents
Source: Alabama Legislature