Transfer of Property Act Section 14 — Rule against perpetuity
CHAPTER I PRELIMINARY
General
Summary
A property transfer cannot create an interest that only begins after the death of someone alive at the time of the transfer, plus the childhood of another person who is alive at that death and who would receive the interest upon turning eighteen. In other words, the interest must take effect within the lifetime of a person living when the transfer is made, or within that person's lifetime plus the minority of someone alive at that person's death.
Official Text
No transfer of property can operate to create an interest which is to take effect after the lifetime of one or more persons living at the date of such transfer, and the minority of some person who shall be in existence at the expiration of that period, and to whom, if he attains full age, the interest created is to belong.