554.64 Exemptions to act. Sec. 4. This act does not apply: (a) To a lease for a term of years. (b) If the specified contingency must occur, if at all, within the period of the rule against perpetuities. (c) If the terminable interest is held for public, educational, religious or charitable purposes. (d) If the terminable interest is created in a conveyance from the United States of America, the state or any agency or political subdivision of either of them. History: 1968, Act 13, Imd. Eff. Mar. 29, 1968
Michigan Legal Code