Minnesota · statute · Minn. Stat. ch. 501A · 7 active provisions
(a) A nonvested property interest is invalid unless: (1) when the interest is created, it is certain to vest or terminate no later than 21 years after the death of an individual then alive; or (2) the interest either vests or terminates within 90 years after its creation. (b) A general power of appointment not presentl…
(a) Except as provided in subsections (b) and (c) and in section 501A.05, subsection (a), the time of creation of a nonvested property interest or a power of appointment is determined under general principles of property law. (b) For purposes of sections 501A.01 to 501A.07, if there is a person who alone can exercise a…
Upon the petition of an interested person, a court shall reform a disposition in the manner that most closely approximates the transferor's manifested plan of distribution and is within the 90 years allowed by section 501A.01, subsection (a)(2), (b)(2), or (c)(2) if: (1) a nonvested property interest or a power of appo…
Section 501A.01 (statutory rule against perpetuities) does not apply to: (1) a nonvested property interest or a power of appointment arising out of a nondonative transfer, except a nonvested property interest or a power of appointment arising out of (i) a premarital or postmarital agreement, (ii) a separation or divorc…
(a) Except as extended by subsection (b), sections 501A.01 to 501A.07 apply to a nonvested property interest or a power of appointment that is created after December 31, 1991. For purposes of this section, a nonvested property interest or a power of appointment created by the exercise of a power of appointment is creat…
Sections 501A.01 to 501A.07 supersede the rule of the common law known as the rule against perpetuities.
Sections 501A.01 to 501A.07 may be cited as the "Uniform Statutory Rule Against Perpetuities."