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SELLING THE FAMILY MANSION WE'D REBUILT FROM THE GROUND UP, THAT WAS OUR HOME BASE FOR TWELVE FUCKIN YEARS, AND OFF TO PISS IT ALL AWAY ON THE USURY GACHA
I WISH I WASN'T SUCH A JOKE AND HAD ANY FUCKIN PULL WITH MY FAMILY
RT: https://poa.st/objects/a952bbfb-fccb-44a4-9c5e-9e9a7b07684f
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@WandererUber @nugger Perpetual family trusts are no longer legal. It's one of the "brilliant" things that came out of universal suffrage.
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The rule against perpetuities. Though some states have adopted a 99 or 100 year rule.
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@nugger grab your piece of the pie and buy arable land for your future family!
Set up a contract when you've built a home there so that it can only ever stay in the family and someone MUST live in it.
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Unfortunately, that's all one has. Deadhand control is a legitimate issue. The Maya didn't have such a rule, so they had to sit their mummified ancestors at the dinner table and ask them what they should to with the land.
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@Humpleupagus @LivingSpaceStudios @nugger Oh I guess we shouldn't try at all then! Just do the maximum that is legal under contract law and the rest via instilling the right values in your family. The custodian of the home must be expected to set up a new contract once the old one expires. Split ownership for safety. If you can't find people that have low time preference and would like to own property, they're gonna be fucked regardless.
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While a corporation can theoretically exist in perpetuity, the share ownership cannot. Shareholding would still be subject to the rule (or similar fixed years rules).
As far as the application is state law, most states have a rule recognizing the validity of foreign state trusts provided that they are valid under the law of the state where created. But this only goes to Creation. A myriad of issues cam arise in multijurisdictional situations that could require fine analysis.
This also affects corporations, which may be governed my "foreign corporation" law in states where it operates or where shareholders are located. There are also tax law issues. By way of example, a Nevada shareholder of a Delaware S-corp that does business in California will need to file california a income tax return on california corporate earnings.
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@Humpleupagus @LivingSpaceStudios @WandererUber @nugger There's some without restrictions at all and you don't have to necessarily live somewhere to create a trust there. Even if you're in a state with restrictions just make a family owned corporation with really hard to meet requirements to change anything important to you.
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@Humpleupagus @LivingSpaceStudios @nugger If your empire falls, it falls. Doesn't mean we shouldn't try.
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If the empire falls, contract may be the base law, with enforcement mechanism via public trials or communal excommunication, etc.
The right of seisin and marriage were not unalike.