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Property Law and Real Estate

1916

England

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Rule Against Perpetuities As Applied To Options, John R. Rood Jan 1916

Rule Against Perpetuities As Applied To Options, John R. Rood

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Does the rule against perpetuities render unlimited options void? This is a question which the English courts answered affirmatively some thirty-five years ago; new aspects of the question have been frequently presented to those courts since that time, and conclusions not easy to reconcile have been reached. It is believed that the present status of the law in England is that an option is like any other interest in land, void if it may arise at too remote a time, otherwise not. This conclusion is based on the decision in Borland's Trustees v. Steel Bros. & Co. [1901] 1 Ch. D. 279, sustaining an option of a corporation to buy or call in its stock at any time; and Southeastern Ry. Co ...