Section 2-903 Reformation - Massachusetts Statutes

[Text of section added by 2008, 521, Sec. 9 effective July 1, 2011. See 2008, 521, Sec. 44.]

Section 2-903. [Reformation.]

Upon the petition of an interested person, a court shall reform a disposition in the manner that most closely approximates the transferor’s manifested plan of distribution and is within the 90 years allowed by section 2-901(a)(2), 2-901(b)(2), or 2-901(c)(2) if:

(1) a nonvested property interest or a power of appointment becomes invalid under section 2-901 (statutory rule against perpetuities);

(2) a class gift is not but might become invalid under section 2-901 (statutory rule against perpetuities) and the time has arrived when the share of any class member is to take effect in possession or enjoyment; or

(3) a nonvested property interest that is not validated by section 2-901(a)(1) can vest but not within 90 years after its creation.