The rule against perpetuities is an ancient and complex set of legal rules designed to prevent people from indefinitely tying up land and assets via successive contingent interests of title so that future generations cannot sell, mortgage or enjoy full use of the property. In 1972, Alberta reformed the worst excesses of the rule against perpetuities in our current Perpetuities Act, seeking a reasonable balance between competing interests.
Following public consultation, the Alberta Law Reform Institute has now released a Final Report recommending the abolition of perpetuities law in Alberta. The modern availability of court variation of trust, tax law and other interests is a sufficient legal mechanism to balance competing interests in this area. Other provinces have abolished perpetuities law without any apparent major problems.