Nevada Rules against Perpetuities, Question 5 (2002)
The Nevada Rules against Perpetuities Question, also known as Question 6, was a legislatively-referred constitutional amendment on the November 7, 2002 election ballot in Nevada, where it was defeated.
|Question 6 (Rules against Perpetuities)|
Official results via: Nevada Legislative Counsel Bureau - Research Division
Text of measure
The language that appeared on the ballot:
- Shall the Nevada Constitution be amended to repeal the constitutional rule against perpetuities?
The language that appeared in the voter's guide:
- The Nevada Constitution currently prohibits transfers of property in perpetuity, except for charitable purposes. This means that persons who own real estate cannot transfer their interests to their heirs or to others if it is possible that such transfers would not actually take effect for a very extended or indefinite period of time. This situation typically arises when property is put in a legal trust for the benefit of future relatives or when property is being distributed under a person's will for future generations. To ensure that the indefinite state of ownership of the property will not go on perpetually, the rule against perpetuities voids a transfer of property if there is any possibility that the transfer will not vest within 21 years after the death of any persons living at the time the transfer was made. An interest in property is said to "vest" at the time the holder of the interest has the right to possess and use it. The proposed amendment would repeal the rule against perpetuities and allow the Legislature to address by law the issue of future property transfer.
- An obvious example of a violation of the rule against perpetuities would be a gift of property under a will or trust to a great, great, great grandchild, but the rule may also be violated in less obvious ways, such as when a will or trust provides that grandchildren will not receive an inheritance of property until they turn 25 years old.
State of Nevada
Carson City (capital)
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