Future Interests – Rule Against Perpetuities – Recent Kentucky Legislation Pertaining to Administrative Contingencies
A recent Kentucky amendment to its perpetuities statute follows the lead of Illinois in seeking a legislative solution to the problems inherent in applying the rule against perpetuities to administrative contingencies. The amendment provides, inter alia, that the vesting of any limitation of property “shall not be regarded as deferred for purposes of the rule against perpetuities or regarded as a suspension of the power of alienation of title to property merely because the limitation is made to the estate of a person, or to a personal representative, or to a trustee under a will, or to take effect on the probate of a will.” Ky. Rev. Stat. (1956) §381.220.