O.C.G.A.
O.C.G.A.

O.C.G.A. § 44-6-201 (2019)

Validity of nonvested property interest or power of appointment

✓ O.C.G.A. — 2019 edition (Public.Resource.Org Release 73)
Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.
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(a) A nonvested property interest is invalid unless: (1) When the interest is created, it is certain either to vest or to terminate within the lifetime of an individual then alive or within 21 years after the death of that individual; or (2) The interest either vests or terminates within 90 years after its creation.

(b) A general power of appointment not presently exercisable because of a condition precedent is invalid unless: (1) When the power is created, the condition precedent is certain either to be satisfied or to become impossible to satisfy within the lifetime of an individual then alive or within 21 years after the death of that individual; or (2) The condition precedent either is satisfied or becomes impossible to satisfy within 90 years after its creation. (c) A nongeneral power of appointment or a general testamentary power of appointment is invalid unless: (1) When the power is created, it is certain to be irrevocably exercised or otherwise to terminate within the lifetime of an individual then alive or within 21 years after the death of that individual; or (2) The power is irrevocably exercised or otherwise terminates within 90 years after its creation. (d) In determining whether a nonvested property interest or a power of appointment is valid under paragraph (1) of subsection (a), paragraph (1) of subsection (b), or paragraph (1) of subsection (c) of this Code section, the possibility that a child will be born to an individual after the individual’s death is disregarded.

History

(Code 1981, § 44-6-201, enacted by Ga. L. 1990, p. 1837, § 2.)

Annotations

JUDICIAL DECISIONS Vesting within 90 years. - Executrix failed to obtain a declaratory judgment from a federal district court to the effect that a realty sales agreement between a decedent and a public trust, which contained a right of first offer (RFO), was unenforceable under Georgia law; the contract did not violate the common law rule against perpetuities or, even if it did, did not violate the rule’s codification at O.C.G.A. § 44-6-201(a)(2) be-

cause the RFO, which expired 20 years from the date of its creation, was reasonable as a matter of law, and it was not clearly impossible for the RFO to vest within 90 years under the statute’s ‘‘wait and see’’ provision. Stephens v. Trust for Pub. Land, 475 F. Supp. 2d 1299 (N.D. Ga. 2007). Cited in Owenby v. Holley, 256 Ga. App. 13, 567 S.E.2d 351 (2002).

Notes of Decisions
Cited in 2 cases, 2002–2007 · leading case: Stephens v. Trust for Pub. Land, 475 F. Supp. 2d 1299 (N.D. Ga. 2007).
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Stephens v. Trust for Pub. Land, 475 F. Supp. 2d 1299 (N.D. Ga. 2007). · cites it 6× “See O.C.G.A. § 44-6-201(a). Under the Georgia rule against perpetuities, an interest which is not valid after applying the common law rule against perpetuities incorporated into the statute, may nevertheless become valid if it “either vests or terminates within 90 years after…”
Owenby v. Holley, 567 S.E.2d 351 (Ga. Ct. App. 2002). · cites it 2× “OCGA § 44-6-201 (a) (1) provides in pertinent part: “A nonvested property interest is invalid unless: (1) When the interest is created, it is certain either to vest or to terminate within the lifetime of an individual then alive or within 21 years after the death of that…”
— 44-6-201(a) — 1 case
Stephens v. Trust for Pub. Land, 475 F. Supp. 2d 1299 (N.D. Ga. 2007). “See O.C.G.A. § 44-6-201(a). Under the Georgia rule against perpetuities, an interest which is not valid after applying the common law rule against perpetuities incorporated into the statute, may nevertheless become valid if it “either vests or terminates within 90 years after…”
— 44-6-201(a)(2) — 1 case
Stephens v. Trust for Pub. Land, 475 F. Supp. 2d 1299 (N.D. Ga. 2007). “See O.C.G.A. § 44-6-201(a). Under the Georgia rule against perpetuities, an interest which is not valid after applying the common law rule against perpetuities incorporated into the statute, may nevertheless become valid if it “either vests or terminates within 90 years after…”
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.