Nichols v. Day

Citations

• 128 Miss. 756

Syllabus

<p>1. Perpetuities. Rule has no application to vested interests.</p> <p>The rule against perpetuities has no application to vested interests, hut only to such interests as may not vest within the prescribed period of time.</p> <p>2. Perpetuities. Right of grantee in a deed conveying standing timber to remove it within 10 years and for a perpetual extension of time does not violate the rule.</p> <p>The right given the grantee in a deed conveying standing timber with a limitation of ten years within which to remove it for a perpetual extension of the time in which to remove the timber does not violate the rule against perpetuities.</p> <p>3 Logs and Logging. Where husband conveyed land to his wife, and later the two conveyed the standing timber to a third party, held, that the latter could procure extension without husband’s consent.</p> <p>N. conveyed land to his wife in trust for herself and their children by deed providing that the wife “shall have all proceeds of said land for their support,” and “shall sell by the consent of N. any part or .all of the above described land,” etc. Afterwards N. and his wife conveyed the timber standing on the land to be removed by the grantee within ten years, but with a right in the grantee to a renewal of the time within which to remove the timber by the payment of a named consideration therefor. No further consent of N. was necessary in order for the grantee to avail himself of this right of extension, but he became entitled thereto on the payment to N.’s wife of the consideration therefor.</p>