SECTIONS 21205-21209 - California Statutes

PROBATE CODE

SECTION 21205-21209

21205. A nonvested property interest is invalid unless one of the
following conditions is satisfied:
(a) When the interest is created, it is certain to vest or
terminate no later than 21 years after the death of an individual
then alive.
(b) The interest either vests or terminates within 90 years after
its creation.

21206. A general power of appointment not presently exercisable
because of a condition precedent is invalid unless one of the
following conditions is satisfied:
(a) When the power is created, the condition precedent is certain
to be satisfied or become impossible to satisfy no later than 21
years after the death of an individual then alive.
(b) The condition precedent either is satisfied or becomes
impossible to satisfy within 90 years after its creation.

21207. A nongeneral power of appointment or a general testamentary
power of appointment is invalid unless one of the following
conditions is satisfied:
(a) When the power is created, it is certain to be irrevocably
exercised or otherwise to terminate no later than 21 years after the
death of an individual then alive.
(b) The power is irrevocably exercised or otherwise terminates
within 90 years after its creation.

21208. In determining whether a nonvested property interest or a
power of appointment is valid under this article, the possibility
that a child will be born to an individual after the individual's
death is disregarded.

21209. (a) If, in measuring a period from the creation of a trust
or other property arrangement, language in a governing instrument (1)
seeks to disallow the vesting or termination of any interest or
trust beyond, (2) seeks to postpone the vesting or termination of any
interest or trust until, or (3) seeks to operate in effect in any
similar fashion upon, the later of (A) the expiration of a period of
time not exceeding 21 years after the death of the survivor of
specified lives in being at the creation of the trust or other
property arrangement or (B) the expiration of a period of time that
exceeds or might exceed 21 years after the death of the survivor of
lives in being at the creation of the trust or other property
arrangement, that language is inoperative to the extent it produces a
period that exceeds 21 years after the death of the survivor of the
specified lives.
(b) Notwithstanding Section 21202, this section applies only to
governing instruments, including instruments exercising powers of
appointment, executed on or after January 1, 1992.