What does the "Rule Against Perpetuities" in Ohio aim to restrict?

The "Rule Against Perpetuities" in Ohio restricts the duration of certain future property interests to ensure that property can be transferred and utilized without being tied up indefinitely. This rule is rooted in the principle that no one should have the ability to control the use of property for an unreasonable period of time after their death. It specifically targets future interests in property, such as contingent remainders or executory interests, and applies to ensure that these interests must vest, if at all, within a certain time frame. Specifically, the rule states that such interests must vest within 21 years after the death of a relevant life in being at the time the interest is created. By imposing this limitation, the rule promotes the free transferability of property, preventing it from being shackled by long-term restrictions that could hinder its development and use.