Iowa Code
Chapter 558 - CONVEYANCES
Section 558.68 - Perpetuities.

558.68 Perpetuities.
1. A nonvested interest in property is not valid unless it must vest, if at all, within twenty-one years after one or more lives in being at the creation of the interest and any relevant period of gestation.
2. a. In determining whether a nonvested interest would violate the rule against perpetuities in subsection 1, the period of the rule shall be measured by actual events rather than by possible events, in any case in which that would validate the interest. For this purpose, if an examination of the facts in existence at the time the period of the rule begins to run reveals a life or lives in being within twenty-one years after whose deaths the nonvested interest will necessarily vest, if it ever vests, that life or lives are the measuring lives for purposes of the rule against perpetuities with respect to that nonvested interest and that nonvested interest is valid under the rule.
b. If no such life or lives can be ascertained at the time the period of the rule begins to run, the measuring lives for purposes of the rule are all of the following:
(1) The creator of the nonvested interest, if the period of the rule begins to run in the creator’s lifetime.
(2) Those persons alive when the period begins to run, if reasonable in number, who have been selected by the creator of the interest to measure the validity of the nonvested interest or, if none, those persons, if reasonable in number, who have a beneficial interest whether vested or nonvested in the property in which the nonvested interest exists, the grandparents of all such beneficiaries and the issue of such grandparents alive when the period of the rule begins to run, and those persons who are the potential appointees of a special power of appointment exercisable over the property in which the nonvested interests exist who are the grandparents or issue of the grandparents of the donee of the power and alive when the period of the rule begins to run.
(3) Those other persons alive when the period of the rule begins to run, if reasonable in number, who are specifically mentioned in describing the beneficiaries of the property in which the nonvested interest exists.
(4) The donee of a general or special power of appointment if the donee is alive when the period of the rule begins to run and if the exercise of that power could affect the nonvested interest.
3. A nonvested interest that would violate the rule against perpetuities whether its period is measured by actual or by possible events shall be judicially reformed to most closely approximate the intention of the creator of the interest in order that the nonvested interest will vest, even though it may not become possessory, within the period of the rule.
4. This section is applicable to all nonvested interests created on, before, or after July 1, 1983.
5. This section shall not impair the validity of an environmental covenant established pursuant to chapter 455I.
6. This section shall not extinguish, limit, or impair the validity of a document or instrument specified in section 499A.23 or 499B.21, or any property interests created by such document or instrument.
[C51, §1191; R60, §2199; C73, §1920; C97, §2901; C24, 27, 31, 35, 39, §10127; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §558.68]
83 Acts, ch 20, §1; 2005 Acts, ch 102, §17; 2014 Acts, ch 1095, §4, 6
Referred to in §455I.9, 499A.23, 499B.21
Subsection 6 applies to all multiple housing cooperatives and horizontal property regimes created prior to, and still in existence on, July 1, 2014, and created on or after July 1, 2014;
2014 Acts, ch 1095, §6

Structure Iowa Code

Iowa Code

Title XIV - PROPERTY

Chapter 558 - CONVEYANCES

Section 558.1 - “Instruments affecting real estate” defined — revocation.

Section 558.1A - Definition.

Section 558.1B - Definitions.

Section 558.2 - Corporation having seal.

Section 558.3 - Corporation not having seal.

Section 558.5 - Contract for deed — presumption of abandonment.

Section 558.6 - Given names — variation — effect.

Section 558.7 - Assignment of certificate of entry deemed deed.

Section 558.8 - Affidavits explanatory of title — presumption.

Section 558.9 - Railroad land grants — duty to record.

Section 558.10 - Patents covering land in different counties.

Section 558.11 - Record — constructive notice.

Section 558.12 - Transcript of instruments.

Section 558.13 - Transcript recorded.

Section 558.14 - Grantor described as “spouse” or “heir” — presumption.

Section 558.15 - Official stamps of nonresident public notaries — presumption.

Section 558.18 - Certification — effect.

Section 558.19 - Forms of conveyance.

Section 558.20 - Acknowledgments.

Section 558.21

Section 558.22

Section 558.23

Section 558.24

Section 558.25

Section 558.26

Section 558.27

Section 558.28

Section 558.29

Section 558.30

Section 558.31 - Proof of execution and delivery in lieu of acknowledgment.

Section 558.32 - Contents of certificate.

Section 558.33 - Subpoenas.

Section 558.34 - Use of seal.

Section 558.35 - Married persons.

Section 558.36 - Attorney in fact.

Section 558.37

Section 558.38

Section 558.39

Section 558.40 - Liability of officer.

Section 558.41 - Recording.

Section 558.42 - Acknowledgment as condition precedent.

Section 558.43 - Definitions.

Section 558.44 - Mandatory recordation of conveyances and leases of agricultural land.

Section 558.45 - Notation of assignment or release on index.

Section 558.46 - Mandatory recording of certain residential real estate installment sales contracts.

Section 558.48 - Transfer fee covenant — prohibition.

Section 558.49 - Index records.

Section 558.50

Section 558.51

Section 558.52 - Alphabetical arrangement.

Section 558.53

Section 558.54

Section 558.55 - Filing and indexing — constructive notice.

Section 558.57 - Entry on auditor’s transfer books.

Section 558.58 - Recorder to collect and deliver to auditor.

Section 558.59 - Final record.

Section 558.60 - Transfer and index books.

Section 558.61 - Form of transfer book.

Section 558.62 - Form of index book.

Section 558.63 - Book of plats — how kept.

Section 558.64 - Entries of transfers.

Section 558.65 - Council’s approval of certain plats.

Section 558.66 - Updating county administrative records.

Section 558.67 - Correction of books and instruments.

Section 558.68 - Perpetuities.

Section 558.69 - Groundwater hazard statement — requirements — liability.

Section 558.70 - Contract disclosure statement required for certain residential real estate installment sales.

Section 558.71 - Civil liabilities.

Section 558.72 - Real estate transfers by certain entities.