Nev. Rev. Stat. § 111.1031
This is the official text of Nev. Rev. Stat. § 111.1031, part of Nevada’s Rev. Stat — part of the compiled statutory law of Nevada, published by the state as "Rev. Stat." Browse the sections below, each linked to its official government source.
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Statutory rule against perpetuities
Official statutory text
1. A nonvested property interest is invalid unless: (a) When the interest is created, it is certain to vest or terminate no later than 21 years after the death of a natural person then alive; or (b) The interest either vests or terminates within 365 years after its creation.
2. A general power of appointment not presently exercisable because of a condition precedent is invalid unless: (a) When the power is created, the condition precedent is certain to be satisfied or become impossible to satisfy no later than 21 years after the death of a natural person then alive; or (b) The condition precedent either is satisfied or becomes impossible to satisfy within 365 years after its creation.
3. A nongeneral power of appointment or a general testamentary power of appointment is invalid unless: (a) When the power is created, it is certain to be irrevocably exercised or otherwise to terminate no later than 21 years after the death of a natural person then alive; or (b) The power is irrevocably exercised or otherwise terminates within 365 years after its creation.
4. In determining whether a nonvested property interest or a power of appointment is valid under paragraph (a) of subsection 1, paragraph (a) of subsection 2 or paragraph (a) of subsection 3, the possibility that a child will be born to a person after his or her death is disregarded.
2. A general power of appointment not presently exercisable because of a condition precedent is invalid unless: (a) When the power is created, the condition precedent is certain to be satisfied or become impossible to satisfy no later than 21 years after the death of a natural person then alive; or (b) The condition precedent either is satisfied or becomes impossible to satisfy within 365 years after its creation.
3. A nongeneral power of appointment or a general testamentary power of appointment is invalid unless: (a) When the power is created, it is certain to be irrevocably exercised or otherwise to terminate no later than 21 years after the death of a natural person then alive; or (b) The power is irrevocably exercised or otherwise terminates within 365 years after its creation.
4. In determining whether a nonvested property interest or a power of appointment is valid under paragraph (a) of subsection 1, paragraph (a) of subsection 2 or paragraph (a) of subsection 3, the possibility that a child will be born to a person after his or her death is disregarded.
Status: in_force · Read it on the official government site
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