Missouri Clauses Relating to Preferred Returns

State:
Multi-State
Control #:
US-P0606-2BAM
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Word; 
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This sample form, containing Clauses Relating to Preferred Returns document, is usable for corporate/business matters. The language is easily adaptable to fit your circumstances. You must confirm compliance with applicable law in your state. Available in Word format.
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FAQ

Here's an example to better help understand: A conveys Blackacre to B and her heirs as long as tobacco is never grown on the property. But if tobacco is ever grown on the property, then to C and his heirs. C's property interest violates the RAP.

TIF permits the use of a portion of local property and sales taxes to assist funding the redevelopment of certain designated areas within a community. Areas eligible for a TIF must contain property classified as "blighted", "conservation" or an "economic development" area as defined by Missouri Statutes.

The rule against perpetuities shall not apply to and any rule prohibiting unreasonable restraints on or suspension of the power of alienation shall not be violated by a trust if a trustee, or other person or persons to whom the power is properly granted or delegated, has the power pursuant to the terms of the trust or ...

The rule against perpetuities stipulates that a will, estate plan or other legal document intending to transfer property ownership more than twenty-one years after the death of the primary recipient is void.

I Section 10. Due process of law. ? That no person shall be deprived of life, liberty or property without due process of law. Source: Const.

The rule against perpetuities is a principle of law which forbids the creation of any future interest in property which need not vest in interest within twenty-one years4 (with a possible addition of three periods of gestation 5) after the end of some life in being0 at the time the creation is attempted.

Application in the United States In the United States, the common law rule has been abolished by statute in Alaska, Idaho, New Jersey, Pennsylvania, Kentucky, Rhode Island, and South Dakota.

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Missouri Clauses Relating to Preferred Returns