Perpetuities and Leases
Nov 28, 2000 | Article
Written by Dennis Daoust
(Return of the Six-Minute Real Estate Lawyer
When dealing with leases, the common law rule against perpetuities (the "Rule"), and the Perpetuities Act R.S.O. 1990, c.P.9. (the "Act") need to be considered. The purpose of the Rule is to preserve the alienability of property by limiting the period for which absolute vesting may be postponed. It is not a simple rule of construction but rather, a peremptory command of law. Its object is to defeat intention where that intention might result in too lengthy a restriction on the ability of a person to dispose of property. The Rule is applied remorselessly.
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