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Re: Keeping family farm in the family


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Posted by John T on November 02, 2021 at 19:49:37 from (174.205.97.237):

In Reply to: Keeping family farm in the family posted by DLMKA on November 02, 2021 at 08:16:58:

I once drafted an appeal before the US Court of Appeals having to do with THE RULE AGAINST PERPETUITIES. In a nutshell the
law DOES NOT favor ruling from the grave or methods by which real estate can be controlled (like keeping it in the family
as OP desired) for years and years after the death of like the Uncle or Mother in this thread.....

Per Wikipedia The rule against perpetuities is a legal rule in the Anglo-American common law that prevents people from
using legal instruments (usually a deed or a will) to exert control over the ownership of private property for a time long
beyond the lives of people living at the time the instrument was written. Specifically, the rule forbids a person from
creating future interests (traditionally contingent remainders and executory interests) in property that would vest beyond
21 years after the lifetimes of those living at the time of creation of the interest, often expressed as a life in being
plus twenty-one years. In essence, the rule prevents a person from putting qualifications and criteria in a deed or a will
that would continue to affect the ownership of property long after he or she has died, a concept often referred to as
control by the dead hand or mortmain.

Its a great thought to keep property in the family and indeed it is possible when handed down generation to generation BUT
IT CAN BE DIFFICULT OTHERWISE and requires quite a bit of complex legal wrangling (yet still subject to challenge)

Regardless, the question posed by the OP can not be answered here by lay or even professionals absent thorough research but
hey its fun to read differing opinions to see what people think of such topics. As Ive often noted any Electrical or Legal
question draws out more opinions and responses then any other and as an electrical engineer and attorney I enjoy them and
love to participate.

Best wishes yall God Bless and take care now

John T BSEE,JD Attorney at Law


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