미국법상 영대 재산권 무효의 원칙에 관한 연구

This study aims at helping Korean readers understand concept of the Rule Against Perpetuities. The Rule Against Perpetuities is known to be one of the most difficult legal concepts for students to understand in property law. The Rule is complex and the words concerning the Rule is extremely confusing for a layperson. This study attempts to explain the Rule as easy as possible for Korean readers. This paper provides some historical background for the Rule Against Perpetuities as well as contents and application of the Rule. This paper also introduces the present estates and future interests before discussing the Rule. The present estates include fee simple absolute, fee simple determinable, fee tail, life estate. The future interests include reversionary interests on the part of grantors, remainders on the part of grantees. There are vested remainders and contingent remainders. The Rule applies to executory interests, contingent remainders, and class gift such as vested remainder subject to open. The Rule invalidates some future interests unless it must vest within perpetuities period. The policy behind the Rule among other things is to promote efficient use of land by prohibiting owners from keeping their property within their family members without exposing it to "the Stream of Commerce". I hope this paper will contribute to better understanding of the Rule by Korean students and researchers who are interested in Anglo-American property law.