{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/55.1-127.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/55.1-127.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/55.1-127.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/55.1-127.html"}],"law_id":58366,"edition_id":1,"section_id":58366,"structure_id":15331,"section_number":"55.1-127","catch_line":"Exclusions from statutory rule against perpetuities","history":"2000, c. 714, \u00a7 55-12.4; 2013, c. 323; 2019, c. 712; 2024, cc. 52, 123.","full_text":"A\n\nSection 55.1-124 does not apply to:1\n\nA nonvested property interest or a power of appointment arising out of a nondonative transfer, except a nonvested property interest or a power of appointment arising out of (i) a premarital or postmarital agreement; (ii) a separation or divorce settlement; (iii) a spouse’s election; (iv) a similar arrangement arising out of a prospective, existing, or previous marital relationship between the parties; (v) a contract to make or not to revoke a will or trust; (vi) a contract to exercise or not to exercise a power of appointment; (vii) a transfer in satisfaction of a duty of support; or (viii) a reciprocal transfer;2\n\nA fiduciary’s power relating to the administration or management of assets, including the power of a fiduciary to sell, lease, or mortgage property, and the power of a fiduciary to determine principal and income;3\n\nA power to appoint a fiduciary;4\n\nA discretionary power of trustee to distribute principal before termination of a trust to a beneficiary having an indefensibly vested interest in the income and principal;5\n\nA nonvested property interest held by a charity, government, or governmental agency or subdivision, if the nonvested property interest is preceded by an interest held by another charity, government, or governmental agency or subdivision;6\n\nA nonvested property interest in or a power of appointment with respect to a trust or other property arrangement forming part of a pension, profit-sharing, stock bonus, health, disability, death benefit, income deferral, or other current or deferred benefit plan for one or more employees, independent contractors, or their beneficiaries or spouses, to which contributions are made for the purpose of distributing to or for the benefit of the participants or their beneficiaries or spouses the property, income, or principal in the trust or other property arrangement, except a nonvested property interest or a power of appointment that is created by an election of a participant or a beneficiary or spouse;7\n\nA property interest, power of appointment, or arrangement that was not subject to the common-law rule against perpetuities or is excluded by another statute of the Commonwealth; or8\n\nA nonvested interest in or power of appointment over personal property held in trust, or a power of appointment over personal property granted under a trust, if the trust instrument, by its terms, provides that § 55.1-124 shall not apply, provided that such interest or power was created between July 1, 2000, and June 30, 2024. If a nonvested interest in or power of appointment over personal property held in trust, or a power of appointment over personal property granted under a trust, was created on or after July 1, 2024, the provisions of the first sentence of this subdivision shall not apply, and any terms in the trust instrument providing that § 55.1-124 does not apply shall not be operative and shall not prevent the application of § 55.1-124 to such interest or power.B\n\nThe exception to the Uniform Statutory Rule Against Perpetuities under the first sentence of subdivision A 8 shall not extend to real property held in trust. For purposes of this subsection, real property does not include an interest in a corporation, limited liability company, partnership, business trust, or other entity, even if such entity owns an interest in real property.","order_by":null,"text":{"0":{"id":213735,"text":"Section 55.1-124 does not apply to:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":213736,"text":"A nonvested property interest or a power of appointment arising out of a nondonative transfer, except a nonvested property interest or a power of appointment arising out of (i) a premarital or postmarital agreement; (ii) a separation or divorce settlement; (iii) a spouse’s election; (iv) a similar arrangement arising out of a prospective, existing, or previous marital relationship between the parties; (v) a contract to make or not to revoke a will or trust; (vi) a contract to exercise or not to exercise a power of appointment; (vii) a transfer in satisfaction of a duty of support; or (viii) a reciprocal transfer;","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":213737,"text":"A fiduciary’s power relating to the administration or management of assets, including the power of a fiduciary to sell, lease, or mortgage property, and the power of a fiduciary to determine principal and income;","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"A3"},"3":{"id":213738,"text":"A power to appoint a fiduciary;","type":"section","prefixes":["A","3"],"prefix":"3","entire_prefix":"A3","prefix_anchor":"A3","level":2,"prior_prefix":"A2","next_prefix":"A4"},"4":{"id":213739,"text":"A discretionary power of trustee to distribute principal before termination of a trust to a beneficiary having an indefensibly vested interest in the income and principal;","type":"section","prefixes":["A","4"],"prefix":"4","entire_prefix":"A4","prefix_anchor":"A4","level":2,"prior_prefix":"A3","next_prefix":"A5"},"5":{"id":213740,"text":"A nonvested property interest held by a charity, government, or governmental agency or subdivision, if the nonvested property interest is preceded by an interest held by another charity, government, or governmental agency or subdivision;","type":"section","prefixes":["A","5"],"prefix":"5","entire_prefix":"A5","prefix_anchor":"A5","level":2,"prior_prefix":"A4","next_prefix":"A6"},"6":{"id":213741,"text":"A nonvested property interest in or a power of appointment with respect to a trust or other property arrangement forming part of a pension, profit-sharing, stock bonus, health, disability, death benefit, income deferral, or other current or deferred benefit plan for one or more employees, independent contractors, or their beneficiaries or spouses, to which contributions are made for the purpose of distributing to or for the benefit of the participants or their beneficiaries or spouses the property, income, or principal in the trust or other property arrangement, except a nonvested property interest or a power of appointment that is created by an election of a participant or a beneficiary or spouse;","type":"section","prefixes":["A","6"],"prefix":"6","entire_prefix":"A6","prefix_anchor":"A6","level":2,"prior_prefix":"A5","next_prefix":"A7"},"7":{"id":213742,"text":"A property interest, power of appointment, or arrangement that was not subject to the common-law rule against perpetuities or is excluded by another statute of the Commonwealth; or","type":"section","prefixes":["A","7"],"prefix":"7","entire_prefix":"A7","prefix_anchor":"A7","level":2,"prior_prefix":"A6","next_prefix":"A8"},"8":{"id":213743,"text":"A nonvested interest in or power of appointment over personal property held in trust, or a power of appointment over personal property granted under a trust, if the trust instrument, by its terms, provides that § 55.1-124 shall not apply, provided that such interest or power was created between July 1, 2000, and June 30, 2024. If a nonvested interest in or power of appointment over personal property held in trust, or a power of appointment over personal property granted under a trust, was created on or after July 1, 2024, the provisions of the first sentence of this subdivision shall not apply, and any terms in the trust instrument providing that § 55.1-124 does not apply shall not be operative and shall not prevent the application of § 55.1-124 to such interest or power.","type":"section","prefixes":["A","8"],"prefix":"8","entire_prefix":"A8","prefix_anchor":"A8","level":2,"prior_prefix":"A7","next_prefix":"B"},"9":{"id":213744,"text":"The exception to the Uniform Statutory Rule Against Perpetuities under the first sentence of subdivision A 8 shall not extend to real property held in trust. For purposes of this subsection, real property does not include an interest in a corporation, limited liability company, partnership, business trust, or other entity, even if such entity owns an interest in real property.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A8"}},"ancestry":[{"id":15331,"edition_id":1,"name":"Rule Against Perpetuities","identifier":"2","label":"article","depth":4,"order_by":1,"parent_id":13391,"metadata":{},"date_created":"2026-06-26 03:54:01","date_modified":"2026-06-26 03:54:01","permalink":{"id":244873,"object_type":"structure","relational_id":15331,"identifier":"2","token":"55.1\/I\/1\/2","url":"\/55.1\/I\/1\/2\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13391,"edition_id":1,"name":"Creation and Limitation of Estates","identifier":"1","label":"chapter","depth":3,"order_by":1,"parent_id":13327,"metadata":{},"date_created":"2026-06-26 03:44:47","date_modified":"2026-06-26 03:44:47","permalink":{"id":244773,"object_type":"structure","relational_id":13391,"identifier":"1","token":"55.1\/I\/1","url":"\/55.1\/I\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13327,"edition_id":1,"name":"Property Conveyances","identifier":"I","label":"subtitle","depth":2,"order_by":1,"parent_id":12707,"metadata":{},"date_created":"2026-06-26 03:44:39","date_modified":"2026-06-26 03:44:39","permalink":{"id":244771,"object_type":"structure","relational_id":13327,"identifier":"I","token":"55.1\/I","url":"\/55.1\/I\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12707,"edition_id":1,"name":"Property and Conveyances","identifier":"55.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":244769,"object_type":"structure","relational_id":12707,"identifier":"55.1","token":"55.1","url":"\/55.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":73807,"structure_id":15331,"section_number":"55.1-124","catch_line":"Uniform Statutory Rule Against Perpetuities","url":"\/55.1-124\/","token":"55.1\/I\/1\/2\/55.1-124","metadata":false},{"id":77510,"structure_id":15331,"section_number":"55.1-125","catch_line":"When nonvested property interest or power of appointment created","url":"\/55.1-125\/","token":"55.1\/I\/1\/2\/55.1-125","metadata":false},{"id":70778,"structure_id":15331,"section_number":"55.1-126","catch_line":"Reformation","url":"\/55.1-126\/","token":"55.1\/I\/1\/2\/55.1-126","metadata":false},{"id":58366,"structure_id":15331,"section_number":"55.1-127","catch_line":"Exclusions from statutory rule against perpetuities","url":"\/55.1-127\/","token":"55.1\/I\/1\/2\/55.1-127","metadata":false},{"id":82059,"structure_id":15331,"section_number":"55.1-128","catch_line":"Prospective application","url":"\/55.1-128\/","token":"55.1\/I\/1\/2\/55.1-128","metadata":false},{"id":76055,"structure_id":15331,"section_number":"55.1-129","catch_line":"Uniformity of application and construction","url":"\/55.1-129\/","token":"55.1\/I\/1\/2\/55.1-129","metadata":false},{"id":71379,"structure_id":15331,"section_number":"55.1-130","catch_line":"Certain limitations construed","url":"\/55.1-130\/","token":"55.1\/I\/1\/2\/55.1-130","metadata":false},{"id":66314,"structure_id":15331,"section_number":"55.1-131","catch_line":"Employee trusts","url":"\/55.1-131\/","token":"55.1\/I\/1\/2\/55.1-131","metadata":false},{"id":74471,"structure_id":15331,"section_number":"55.1-132","catch_line":"Determination of \"lives in being\" for purpose of rule against perpetuities","url":"\/55.1-132\/","token":"55.1\/I\/1\/2\/55.1-132","metadata":false},{"id":80573,"structure_id":15331,"section_number":"55.1-133","catch_line":"Application of the rule against perpetuities to nondonative transfers","url":"\/55.1-133\/","token":"55.1\/I\/1\/2\/55.1-133","metadata":false}],"previous_section":{"id":70778,"structure_id":15331,"section_number":"55.1-126","catch_line":"Reformation","url":"\/55.1-126\/","token":"55.1\/I\/1\/2\/55.1-126","metadata":false},"next_section":{"id":82059,"structure_id":15331,"section_number":"55.1-128","catch_line":"Prospective application","url":"\/55.1-128\/","token":"55.1\/I\/1\/2\/55.1-128","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/55.1-127\/","history_text":"

This law was first created in 2000. The record of its establishment is cataloged in chapter 714<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. It has been modified 3 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 2013, chapter 323<\/a>; in 2019, chapter 712<\/a>; in 2024, chapters 52<\/a> and 123<\/a>.<\/p>","references":[{"id":82059,"section_number":"55.1-128","catch_line":"Prospective application","order_by":null,"url":"\/55.1-128\/"},{"id":80573,"section_number":"55.1-133","catch_line":"Application of the rule against perpetuities to nondonative transfers","order_by":null,"url":"\/55.1-133\/"}],"refers_to":[{"id":73807,"section_number":"55.1-124","catch_line":"Uniform Statutory Rule Against Perpetuities","order_by":null,"url":"\/55.1-124\/"}],"permalink":{"id":244887,"object_type":"law","relational_id":58366,"identifier":"55.1-127","token":"55.1\/I\/1\/2\/55.1-127","url":"\/55.1-127\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/55.1-127\/","token":"55.1\/I\/1\/2\/55.1-127","dublin_core":{"Title":"Exclusions from statutory rule against perpetuities","Type":"Text","Format":"text\/html","Identifier":"\u00a7 55.1-127","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Section 55.1-124<\/a> does not apply to: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> A nonvested property interest or a power of appointment arising out of a nondonative transfer, except a nonvested property interest or a power of appointment arising out of (i) a premarital or postmarital agreement; (ii) a separation or divorce settlement<\/span>; (iii) a spouse’s election; (iv) a similar arrangement arising out of a prospective, existing, or previous marital relationship between the parties; (v) a contract<\/span> to make or not to revoke a will or trust; (vi) a contract<\/span> to exercise or not to exercise a power of appointment; (vii) a transfer in satisfaction of a duty of support; or (viii) a reciprocal transfer; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> A fiduciary’s power relating to the administration or management of assets<\/span>, including the power of a fiduciary to sell, lease, or mortgage property, and the power of a fiduciary to determine principal and income; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> A power to appoint a fiduciary; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> A discretionary power of trustee to distribute principal before termination of a trust to a beneficiary having an indefensibly vested interest in the income and principal; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> A nonvested property interest held by a charity, government, or governmental agency or subdivision, if the nonvested property interest is preceded by an interest held by another charity, government, or governmental agency or subdivision; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

6.<\/span> A nonvested property interest in or a power of appointment with respect to a trust or other property arrangement forming part of a pension, profit-sharing, stock bonus, health, disability, death benefit, income deferral, or other current or deferred benefit plan for one or more employees, independent contractors, or their beneficiaries or spouses, to which contributions are made for the purpose of distributing to or for the benefit of the participants or their beneficiaries or spouses the property, income, or principal in the trust or other property arrangement, except a nonvested property interest or a power of appointment that is created by an election of a participant or a beneficiary or spouse; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

7.<\/span> A property interest, power of appointment, or arrangement that was not subject to the common-law<\/span> rule against perpetuities or is excluded by another statute<\/span> of the Commonwealth; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

8.<\/span> A nonvested interest in or power of appointment over personal property held in trust, or a power of appointment over personal property granted under a trust, if the trust instrument, by its terms, provides that § 55.1-124<\/a> shall not apply, provided that such interest or power was created between July 1, 2000, and June 30, 2024. If a nonvested interest in or power of appointment over personal property held in trust, or a power of appointment over personal property granted under a trust, was created on or after July 1, 2024, the provisions of the first sentence of this subdivision shall not apply, and any terms in the trust instrument providing that § 55.1-124<\/a> does not apply shall not be operative and shall not prevent the application of § 55.1-124<\/a> to such interest or power. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The exception to the Uniform Statutory Rule Against Perpetuities under the first sentence of subdivision A 8 shall not extend to real property held in trust. For purposes of this subsection, real property does not include an interest in a corporation, limited liability company, partnership, business trust, or other entity, even if such entity owns an interest in real property. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nEXCLUSIONS FROM STATUTORY RULE AGAINST PERPETUITIES (\u00a7 55.1-127)\n\nA. Section 55.1-124 does not apply to:\n\n 1. A nonvested property interest or a power of appointment arising out of a\n nondonative transfer, except a nonvested property interest or a power of\n appointment arising out of (i) a premarital or postmarital agreement; (ii) a\n separation or divorce settlement; (iii) a spouse’s election; (iv) a\n similar arrangement arising out of a prospective, existing, or previous\n marital relationship between the parties; (v) a contract to make or not to\n revoke a will or trust; (vi) a contract to exercise or not to exercise a power\n of appointment; (vii) a transfer in satisfaction of a duty of support; or\n (viii) a reciprocal transfer;\n\n 2. A fiduciary’s power relating to the administration or management of\n assets, including the power of a fiduciary to sell, lease, or mortgage\n property, and the power of a fiduciary to determine principal and income;\n\n 3. A power to appoint a fiduciary;\n\n 4. A discretionary power of trustee to distribute principal before termination\n of a trust to a beneficiary having an indefensibly vested interest in the\n income and principal;\n\n 5. A nonvested property interest held by a charity, government, or\n governmental agency or subdivision, if the nonvested property interest is\n preceded by an interest held by another charity, government, or governmental\n agency or subdivision;\n\n 6. A nonvested property interest in or a power of appointment with respect to\n a trust or other property arrangement forming part of a pension,\n profit-sharing, stock bonus, health, disability, death benefit, income\n deferral, or other current or deferred benefit plan for one or more employees,\n independent contractors, or their beneficiaries or spouses, to which\n contributions are made for the purpose of distributing to or for the benefit\n of the participants or their beneficiaries or spouses the property, income, or\n principal in the trust or other property arrangement, except a nonvested\n property interest or a power of appointment that is created by an election of\n a participant or a beneficiary or spouse;\n\n 7. A property interest, power of appointment, or arrangement that was not\n subject to the common-law rule against perpetuities or is excluded by another\n statute of the Commonwealth; or\n\n 8. A nonvested interest in or power of appointment over personal property held\n in trust, or a power of appointment over personal property granted under a\n trust, if the trust instrument, by its terms, provides that § 55.1-124\n shall not apply, provided that such interest or power was created between July\n 1, 2000, and June 30, 2024. If a nonvested interest in or power of appointment\n over personal property held in trust, or a power of appointment over personal\n property granted under a trust, was created on or after July 1, 2024, the\n provisions of the first sentence of this subdivision shall not apply, and any\n terms in the trust instrument providing that § 55.1-124 does not apply\n shall not be operative and shall not prevent the application of §\n 55.1-124 to such interest or power.\n\nB. The exception to the Uniform Statutory Rule Against Perpetuities under the\nfirst sentence of subdivision A 8 shall not extend to real property held in\ntrust. For purposes of this subsection, real property does not include an\ninterest in a corporation, limited liability company, partnership, business\ntrust, or other entity, even if such entity owns an interest in real property.\n\nHISTORY: 2000, c. 714, \u00a7 55-12.4; 2013, c. 323; 2019, c. 712; 2024, cc. 52,\n123.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}