(a) Traditional rule.--Sections 6104 (relating to rule against perpetuities), 6105 (relating to rule against perpetuities; disposition when invalidity occurs), 6106 (relating to income accumulations; when valid) and 6107 (relating to income accumulations; disposition when invalidity occurs):
(1) shall apply to every interest created before January 1, 2007; but
(2) shall not apply to any interest created after December 31, 2006.
(b) Modern rule.--All of the following apply to every interest created after December 31, 2006:
(1) Except as provided in paragraph (3), no interest shall be void as a perpetuity.
(2) No direction or authorization to accumulate income shall be void as a perpetuity.
(3) If a power of appointment is exercised to create a new power of appointment, any interest created by the exercise of the new power of appointment is invalid if it does not vest within 360 years of the creation of the original power of appointment, unless the exercise of the new power of appointment expressly states that this provision shall not apply to the interests created by the exercise.
(4) Void interests shall be disposed of in the manner provided in section 6105.
(July 7, 2006, P.L.625, No.98, eff. imd.; Oct. 27, 2010, P.L.837, No.85, eff. imd.)
2010 Amendment. Section 9(2) of Act 85 provided that the amendment of section 6107.1 shall apply to any interest created after December 31, 2006. Section 10(b) of Act 85 provided that the amendment of section 6107.1 shall be retroactive to January 1, 2007.
Cross References. Section 6107.1 is referred to in sections 6106, 6107 of this title.
Structure Pennsylvania Consolidated & Unconsolidated Statutes
Pennsylvania Consolidated & Unconsolidated Statutes
Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES
Section 6102 - Termination of trusts (Deleted by amendment)
Section 6103 - Release or disclaimer of powers or interests (Repealed)
Section 6103.1 - Release of powers and interests and disclaimer of powers
Section 6104 - Rule against perpetuities
Section 6105 - Rule against perpetuities; disposition when invalidity occurs
Section 6106 - Income accumulations; when valid
Section 6107 - Income accumulations; disposition when invalidity occurs
Section 6107.1 - Applicability of rule against perpetuities
Section 6108 - Designation of beneficiaries of insurance or employee death benefits not testamentary
Section 6109 - Combination of charitable trusts (Repealed)
Section 6110 - Administration of charitable interests (Deleted by amendment)
Section 6111 - Conveyances to defeat marital rights (Repealed)
Section 6111.1 - Modification by divorce or pending divorce
Section 6111.2 - Effect of divorce or pending divorce on designation of beneficiaries
Section 6112 - Spendthrift trusts (Deleted by amendment)
Section 6113 - Limited estates in personalty and in the proceeds of the conversion of real estate
Section 6114 - Rules of interpretation
Section 6115 - Estates pur autre vie
Section 6116 - Estates in fee tail abolished
Section 6117 - Rule in Shelley's case and doctrine of worthier title