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LSDefine

Simple English definitions for legal terms

accumulations, rule against

Read a random definition: class legislation

A quick definition of accumulations, rule against:

The rule against accumulations states that if someone wants to save the income from their property to distribute it to certain people later, they can only do so within a certain time limit. This time limit is called the perpetuity period. If the accumulation of income goes beyond this period, it is not allowed.

A more thorough explanation:

Definition: The rule that states a direction to accumulate income from property, with the intention of distributing it later to certain beneficiaries, is only valid if it is limited to the perpetuity period. This rule is also known as the rule against accumulations.

Example: A wealthy individual leaves a will that directs their estate to accumulate all income from their properties for the next 50 years, with the intention of distributing it to their grandchildren after that time. However, the rule against accumulations states that this direction is only valid if it is limited to the perpetuity period, which is typically 21 years after the death of the last living beneficiary. Therefore, the direction to accumulate income for 50 years would be invalid.

Explanation: This example illustrates how the rule against accumulations limits the amount of time that income can be accumulated for future distribution. In this case, the direction to accumulate income for 50 years exceeds the perpetuity period, making it invalid. The rule against accumulations is in place to prevent property from being tied up for too long and to ensure that beneficiaries receive their rightful share in a timely manner.

accumulation | accumulative

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Mostlylegal
12:56
did i fool you?!
noreaster
12:57
husband coming to live with me this summer
noreaster
12:57
woohoo
first power bottom president... besties we had JFK
noreaster
12:58
^
HOW COULD I FORGET RIP JFK YOU WOULD'VE LOVED $2 DRINK NIGHT IN THE GAY CLUBS
12:59
Anyone here going to Catholic or Drexel or NYLS ??
12-78-90live
13:00
Does anyone have confirmation on UConn’s class being full or not?
Mostlylegal
13:09
yeah its full, full of goobers!
they're arguing on the lawschooladmissions reddit rn about not applying to law school if you score below 150
guys i'll only say this one: do NOT apply to law school if you are only 150 rats in a trench coat pretending to be a person. everyone knows 150+ rats are needed to pass as a human being.
13:12
haha good one
i'm so glad we're finally talking about this here. the meme'ing is so good lmfao
13:13
bold of you to assume 150 rats < 1 human (infected with brain rot)
ClassyPleasantHeron
13:13
They've been arguing and memeing about that on Reddit for a few days now. All the poor sharks have waterski marks on their backs from all the jumping.
13:14
echo chamber > affirmation of beliefs > dopamine hit > mental gymnastics > think funny > 'Just trolling' > repeat. Sad state of reddit
Mostlylegal
13:14
classic nondenominational service
LMAOOOO it's so dumb man like i wish the biggest issue in my life was caring about the lsat score of others
13:16
lsat is the totem pole of law school. I for one will get a tattoo of my score to assert dominance both to peers and any teacher whom comes into contact with me
that's true honestly i saw how those rats in nosferatu can cause some damage in packs of like 50
13:17
opening line day 1 of 1L: 'So what did YOU get on the LSAT" if lower than me > wow u sugg. if higher than me > ur a liar!
Mostlylegal
13:17
who would win a >150 lsat or a law school
who will win: 50 rats or michigan admissions office
Mostlylegal
13:17
wait you guys are paying tuition???
13:18
What if 50 rats got into NDLS & NYU, ate all the apps, and both schools do not want to tell the world so they are just stalling hopeing every1 just forgets/goes somewhere else?? #RatGate
i heard barron trump ate the nyu apps that's why he's so tall
Mostlylegal
13:20
when I stand on my money im 5'11 (im 5'103/4)
13:26
Haha "Anytime I feel short, I stand on my wallet," mostly knows coins are far thicker than bills, smart man
FalseClearFlounder
13:28
Are Thursdays and Fridays more active for decisions?
Mostlylegal
13:31
depends if its fo pm or not
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