Originally published by David Coale.
Like the zombie to the right, the Rule Against Perpetuities never dies and always marches forward. Most recently, in Yowell v. Granite Operating Co., the Supreme Court found that a reserved overriding royalty interest was an interest in real property (as well as a contract right) and could thus be subject to the Rule. Fortunately for Ruleaphobes, the Court also held: “Reformation under [CPRC] section 5.043 is not an ‘action’ to which the residual statute of limitations would apply. Rather, the Legislature enacted a remedial mandate for courts to reform interests, like the one in this case, that violate the Rule.” No. 18-0841 (May 15, 2020).
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