@ThinkingSapien

It's a fun discussion about the wrangling between #Disney and #Florida Governor #DeSantis, culminating in a discussion of the #RuleAgainstPerpetuities

But if you already know about the #ReedyCreek Improvement District's February meeting, it adds nothing new because we have yet to see Disney argue in court that FL's abolition of #RCID was a #BillOfAttainder or FL's mewling attempts to say RCID and Disney couldn't sign new contracts just because DeSantis was making loud noises and telegraphing his punches.

Me tonight when hubs asked me to explain the #Disney #ReedyCreek #ruleagainstperpetuities Perpetuties situation.

YOU, TOO, CAN COMPREHEND THE PURPOSE OF THE *ROYAL FAMILY CLAUSE* IN DISNEY'S PERPETUAL #DESANTIS-NEUTERING LEGAL MANEUVER

It's an effort to write as long a term as possible into the agreement, because anglo-american jurisprudence does not permit the creation of *perpetuities,* forever deals. The #RuleAgainstPerpetuities outlaws all grants creating rights that will not vest within 21 years of a life in being at the time of the grant.

https://www.cnbc.com/2023/03/30/disney-ron-desantis-royal-lives-clause.html

1/2

And that's why the Magic Kindgom dragged the United Kindgom into their political battle with Gov. DeSantis.

#Disney #ReedyCreek #KingCharlesIII #RuleAgainstPerpetuities

The Disney agreement will last for 21 years beyond the death of the last of the now-living descendants of King Charles III. The youngest of these—the daughter of Harry and Meghan, the Duke and Duchess of Sussex, is not even two years old.

Her ancestors, Queen Elizabeth and her husband Phillip, lived well into their nineties. That means this clause will likely last for a very long time indeed—possibly 110 years or even more.

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#Disney #ReedyCreek #KingCharlesIII #RuleAgainstPerpetuities

Sound complicated? It is. Law students joke—not without reason—that you can't be held liable for malpractice if you mess up a Rule Against Perpetuities clause.

But lawyers developed a weird and simple trick for getting around this—the "Royal Lives clause." Simply put, the "living person" would be a descendant of the royal family. They were numerous and easy to trace, which made it convenient.

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#Disney #ReedyCreek #KingCharlesIII #RuleAgainstPerpetuities

Enter the Rule Against Perpetuities. This court-created rule invalidated these conditional transfer UNLESS they resolved within a certain period of time—namely, 21 years after the death of some person who was living at the time the interest was created. Florida, like many states, has a version of this rule in place.

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#Disney #ReedyCreek #KingCharlesIII #RuleAgainstPerpetuities

Why did Disney drag the King into this deal? The unbelievable short answer: this is a common legal trick to defend contracts against legal challenges.

Under the American and English common law, certain types of transfers might be conditional or uncertain. And leaving those uncertain conditions unresolved for long periods of time was widely seen as undesirable.

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#Disney #ReedyCreek #KingCharlesIII #RuleAgainstPerpetuities

The development deal limits the new Board's power to regulate building and development within the areas controlled by Disney.

There's one clause that caught the attention of Disney fans and Anglophiles around the world: that some of the provisions of the agreement:

“shall continue in effect until twenty one years after the death of the last survivor of the descendants of King Charles III.”

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#Disney #ReedyCreek #KingCharlesIII #RuleAgainstPerpetuities

News reports this week revealed that the battle between Disney and Florida's Governor Ron DeSantis have culminated in a deal between Disney and the old Reedy Creek Improvement District Board. That deal drastically limits the powers on the new, DeSantis-installed Central Florida Tourism Oversight Board (CFTOB).

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#Disney #ReedyCreek #KingCharlesIII #RuleAgainstPerpetuities

So what does King Charles III have to do with Disney?

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#Disney #ReedyCreek #KingCharlesIII #RuleAgainstPerpetuities

🤣 I'm not a huge fan of massive corporate entities but this is absolutely glorious: Disney's Lawyers Are Better Than Ron DeSantis's Lawyers

https://abovethelaw.com/2023/03/disneys-lawyers-are-better-than-ron-desantiss-lawyers/

#law #lawyers #ruleagainstperpetuities #schadenfreude #oops

Some property professor wished upon a star that people would care about the Rule Against Perpetuities.

And, well, you know how the Walt Disney Corporation feels about people wishing upon a star.

@law #law #lawfedi #lawjokes #property #ruleagainstperpetuities #disney

I would like to thank the Reedy Creek Development Board for writing my #Property exam this year. #RuleAgainstPerpetuities

States have been repealing the rule against perpetuities for years. It’s a key feature of what Thomas Piketty calls patrinomial capitalism. https://newrepublic.com/article/164716/defund-dead-estate-tax-inheritance
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RT @earlymodjustice
#ruleagainstperpetuities https://twitter.com/earlymodjustice/status/1641254554560786432
https://twitter.com/earlymodjustice/status/1641445174479048705