Invalidity of Restraints on Alienation: As a matter of policy, the law favors the free transferability of land, unencumbered by restrictions. Some restrictions are, of course, permitted, but others go to far and will be declared void – meaning they are stricken from the grant and thereafter ignored.
The Rule Against Perpetuities: Whether or not it fits properly within this topic, the RAP has confounded law students for decades. The basic idea is that there are limits on the amount of time that the law will tolerate separation of the present and future interests in land. The basic statement of the rule is that “no interest is good unless it must vest, if at all, not later than 21 years after some life in being at the creation of the interest. More simply stated, the idea is that if we cannot determine at the time of conveyance that a contingent future interest (created by the conveyance) will be resolved – i.e., the condition precedent will either happen or definitively fail – then the entire future interest is void. In fact, the “first child of A to graduate from law school” future interest granted in the example above is void under the RAP, for reasons that many students have a great deal of difficulty comprehending.