The rule against perpetuities applies to which property types in New York?

• A. Real property only
• B. Personal property only
• C. Real and personal property, but not charities
• D. Charities only

Answer: (C)

The rule against perpetuities targets whether future interests in property vest within a reasonable time, measured by a life in being plus 21 years. In New York, this applies to both real property interests and personal property interests because the concern is about the timing of vesting, not the property type. Charitable gifts and trusts are exempt from RAP, reflecting a policy that perpetuity of charitable uses is acceptable. So, the rule governs real and personal property, but not charitable interests.