A perpetuity is a financial instrument that provides continuous payments indefinitely. It has no end date, meaning it theoretically continues forever. The Rule Against Perpetuities restricts the length of time properties can be held or devised to lineage.
The Rule Against Perpetuities is a legal doctrine that ensures no contingent interest in property is valid unless it vests not later than 21 years after the death of a specified person living when the interest was created. This rule prevents property from being indefinitely tied up within a family and limits control over future ownership.
