sec.209Conditions precedent and conditions subsequent

### sec.209 Conditions precedent and conditions subsequent If a document limits property in trust so as to create an interest in property subject to a condition precedent, the property must vest before the end of the perpetuity period for the disposition of the property. If a document limits property in trust so as to create an interest in property subject to a condition subsequent— if the property is land—a right of re-entry exercisable if the condition subsequent is broken must be exercised before the end of the perpetuity period for the disposition of the property; or for property other than land—a right equivalent to a right of re-entry exercisable if the condition subsequent is broken may only be exercised before the end of the perpetuity period for the disposition of the property. If a right mentioned in subsection (2) is not exercised before the end of the perpetuity period for the disposition of the property, the interest in the property is no longer subject to the condition subsequent. (sec.209-ssec.1) If a document limits property in trust so as to create an interest in property subject to a condition precedent, the property must vest before the end of the perpetuity period for the disposition of the property. (sec.209-ssec.2) If a document limits property in trust so as to create an interest in property subject to a condition subsequent— if the property is land—a right of re-entry exercisable if the condition subsequent is broken must be exercised before the end of the perpetuity period for the disposition of the property; or for property other than land—a right equivalent to a right of re-entry exercisable if the condition subsequent is broken may only be exercised before the end of the perpetuity period for the disposition of the property. (sec.209-ssec.3) If a right mentioned in subsection (2) is not exercised before the end of the perpetuity period for the disposition of the property, the interest in the property is no longer subject to the condition subsequent. - (a) if the property is land—a right of re-entry exercisable if the condition subsequent is broken must be exercised before the end of the perpetuity period for the disposition of the property; or - (b) for property other than land—a right equivalent to a right of re-entry exercisable if the condition subsequent is broken may only be exercised before the end of the perpetuity period for the disposition of the property.