Section 111.1031 - Statutory rule against perpetuities1. A nonvested property interest is invalid unless: (a) When the interest is created, it is certain to vest or terminate no later than 21 years after the death of a natural person then alive; or(b) The interest either vests or terminates within 365 years after its creation.2. A general power of appointment not presently exercisable because of a condition precedent is invalid unless:(a) When the power is created, the condition precedent is certain to be satisfied or become impossible to satisfy no later than 21 years after the death of a natural person then alive; or(b) The condition precedent either is satisfied or becomes impossible to satisfy within 365 years after its creation.3. A nongeneral power of appointment or a general testamentary power of appointment is invalid unless: (a) When the power is created, it is certain to be irrevocably exercised or otherwise to terminate no later than 21 years after the death of a natural person then alive; or(b) The power is irrevocably exercised or otherwise terminates within 365 years after its creation.4. In determining whether a nonvested property interest or a power of appointment is valid under paragraph (a) of subsection 1, paragraph (a) of subsection 2 or paragraph (a) of subsection 3, the possibility that a child will be born to a person after his or her death is disregarded.Added to NRS by 1987, 62; A 1991, 116; 2005, 537, 959; 2019, 1846Amended by 2019, Ch. 309,§4, eff. 10/1/2019.Added to NRS by 1987, 62; A 1991, 116; 2005, 537, 959