perpetuity
/ˌpɜrpəˈtuəti/
noun
- The state or quality of lasting forever or for an indefinitely long time.
- The contract grants the land to the family in perpetuity.
- Some people believe that the soul exists in perpetuity after death.
- The scholarship fund was established in perpetuity to support students for generations.
- A legal arrangement in which property or money is held for an unlimited period, often with restrictions on transfer.
- The lawyer explained the rule against perpetuities to the confused heirs.
- The trust was set up in perpetuity, meaning no one could sell the assets.
- Perpetuities are rare in modern law because they can tie up resources indefinitely.
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