North Carolina National Bank v. Norris

PARKER, Judge.

The common-law rule against perpetuities has been long recognized and enforced in this jurisdiction, and its application has the continuing sanction of Article I, Section 34 of our State Constitution. This rule, which is “not one of construction but a positive mandate of law to be obeyed irrespective of the question of intention,” Mercer v. Mercer, 230 N.C. 101, 52 S.E. 2d 229, has been stated by our Supreme Court as follows :

“No devise or grant of a future interest in property is valid unless the title thereto must vest, if at all, not later than twenty-one years, plus the…