EPTL 10-8.1 — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search up PART 8 Rule Against Perpetuities and Accumulations As Affected By Powers of Appointment next SECTION 10-8.2 Rule against perpetuities; law which determines permissible Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 10-8.1 Rule against perpetuities; time at which permissible period Estates, Powers & Trusts (EPT) CHAPTER 17-B, ARTICLE 10, PART 8 § 10-8.1 Rule against perpetuities; time at which permissible period begins (a) Where an estate is created by an instrument exercising a power of appointment, the permissible period of the rule against perpetuities begins: (1) In the case of an instrument exercising a general power which is presently exercisable, on the effective date of the instrument of exercise. (2) In all other cases, at the time of the creation of the power. (b) Where the creator of a trust reserves to himself an unqualified power to revoke, the permissible period of the rule against perpetuities begins when the power to revoke terminates by reason of the death of the creator, by a release of such power or otherwise.