N.Y. Estates, Powers & Trusts Law § 9-1.1: Rule against perpetuities

§ 9-1.1 Rule against perpetuities

(a) (1) The absolute power of alienation is suspended when there are

no persons in being by whom an absolute fee or estate in possession can

be conveyed or transferred.

(2) Every present or future estate shall be void in its creation which

shall suspend the absolute power of alienation by any limitation or

condition for a longer period than lives in being at the creation of the

estate and a term of not more than twenty-one years. Lives in being

shall include a child conceived before the creation of the estate but

born thereafter. In no case shall the lives measuring the permissible

period be so designated or so numerous as to make proof of their end

unreasonably difficult.

(b) No estate in property shall be valid unless it must vest, if at

all, not later than twenty-one years after one or more lives in being at

the creation of the estate and any period of gestation involved. In no

case shall lives measuring the permissible period of vesting be so

designated or so numerous as to make proof of their end unreasonably

difficult.