12.004 Unborn Children
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Unborn Children. By deed dated June 24, 1976, and recorded in Deed Book 100, page 75, Guadalupe Land, Inc., distributed as a dividend to its shareholders all oil and gas, and other minerals under its lands. The dividend deed purported to convey an undivided 1/50 interest in the captioned property (1 share/50 share) to Pedro Zambini, as trustee under an unrecorded trust indenture for the “unborn child of Kenneth Zambini.” The Abstract indicates that Gloria Zambini is the person named in the trust as the “unborn child of Kenneth Zambini.”
As of June 24, 1976, when the dividend deed to the trustee for the “unborn child of Kenneth Zambini” was executed and delivered, the common law Rule Against Perpetuities, as codified in Ala. Code §35-4-4 (1975) was in effect. If the trust indenture did not have a perpetuities savings clause, there is a risk that it was invalid and failed to transfer to Pedro Zambini, as trustee, an undivided 1/50 interest in the captioned property.
Requirement: If you are unwilling to accept the risk that the dividend deed conveyance from Guadalupe Land, Inc., to Pedro Zambini failed due to the common law Rule Against Perpetuities, please advise us accordingly, and we shall supplement this requirement
Copyright 2011 by Edward G, Hawkins. All rights reserved.