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2018 Georgia Code 44-6-201 | Car Wreck Lawyer

Link to State of Georgia Official Statute 2018 Georgia Code Annotated (sourced from legal.resource.org)
O.C.G.A. 44-6-201 Case Law from Google Scholar Amendments to OCGA 44-6-201

TITLE 44 PROPERTY

Section 6. Estates, 44-6-1 through 44-6-206.

ARTICLE 9 UNIFORM STATUTORY RULE AGAINST PERPETUITIES

44-6-201. Validity of nonvested property interest or power of appointment.

  1. 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 360 years after its creation.
  2. 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 360 years after its creation.
  3. 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 360 years after its creation.
  4. 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.

(Code 1981, §44-6-201, enacted by Ga. L. 1990, p. 1837, § 2; Ga. L. 2018, p. 262, § 1/HB 121.)

The 2018 amendment, effective July 1, 2018, substituted "360 years" for "90 years" in paragraphs (a)(2), (b)(2), and (c)(2).

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) because 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).

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