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Life in Being

A phrase used in the common-law and statutory rules against perpetuities, meaning the remaining duration of the life of a person who is in existence at the time when the deed orwill takes effect.

The courts developed the rule during the seventeenth century in order to limit a person's power to control the ownership and possession of property after death, and to ensure the transferability of property.

CROSS-REFERENCES

Rule Against Perpetuities.

Additional topics

Law Library - American Law and Legal InformationFree Legal Encyclopedia: Legislative Veto to Lloyd's