Panel backs extending vesting period in rule‑against‑perpetuities from 90 to 360 years

The Senate Judiciary subcommittee voted to report favorably a bill that would extend the statute governing when future property interests must vest, moving the Uniform Statutory Rule Against Perpetuities' default vesting period from 90 years to 360 years.

Paula, committee staff, summarized the change as an extension of the period by which a nonvested property interest becomes valid from 90 years to 360 years. "It is a trend to at least go up to 360 years," she told members while distributing comparative-state materials showing some jurisdictions taking various approaches to the doctrine.

Miss Minton, representing the probate section of the South Carolina Bar, described practical reasons for the change: clients are waiting to create dynasty trusts, and an extended period can make South Carolina more attractive for trust formation and for retaining assets in‑state. She said the 360‑year figure was selected for conformity with other states and to approximate four generations rather than eliminate the rule entirely; she noted North Carolina has abolished the rule while Florida has moved to a much longer or effectively perpetual approach.

Committee members pressed on the policy rationale and whether existing trusts could benefit; Miss Minton said they had reviewed other jurisdictions' language and believed the extension could be applied to trusts created prior to the bill's effective date. The subcommittee approved the bill by voice vote and adjourned.

The transcript does not include a roll-call tally for the voice vote.