Perpetuities and Accumulations Act 1989. Country/Territory Bermuda (UK) Document type Legislation Date 1989 (2009) Source FAO, FAOLEX Subject Land & soil Keyword Land tenure Right of use Lease Geographical area Americas, Atlantic Ocean Islands, North America, North Atlantic Abstract This Act modifies the law relating to the avoidance of future interests in property on grounds of remoteness and governing accumulations of income from property. The rule against perpetuities shall not apply to an option to acquire for valuable consideration an interest on the term of a lease if: (a) the option is exercisable only by the lessee or his or her successors in title, and (b) it ceases to be exercisable at or before the expiration of one year following the determination of the lease. In the case of a disposition consisting of the conferring of an option to acquire for valuable consideration any interest in land, the perpetuity period under the rule against perpetuities shall be 21 years. Full text English Website www.bermudalaws.bm References - Legislation Amended by Perpetuities and Accumulations Act 2009. Legislation | Bermuda (UK) | 2009 Keyword: Land tenure, Right of use Source: FAO, FAOLEX