LegalFix
Sign In

§ 55-12.3. (Repealed effective October 1, 2019) Reformation

Copy with citation
Copy as parenthetical citation

Upon the petition of an interested person, a court of equity in the county or city wherein the affected property or the greater part thereof is located shall reform a disposition in the manner that most closely approximates the transferor's manifested plan of distribution and is within the ninety years allowed by subdivision A 2, B 2 or C 2 of § 55-12.1 if:

1. A nonvested property interest or a power of appointment becomes invalid under § 55-12.1;

2. A class gift is not but might become invalid under § 55-12.1 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 subdivision A 1 of § 55-12.1 can vest but not within 90 years after its creation.

2000, c. 714.

Previous Section
§ 55-12.2. (Repealed effective October 1, 2019) When nonvested property interest or power of appointment created
Next Section
§ 55-12.4. (Repealed effective October 1, 2019) Exclusions from statutory rule against perpetuities