Perpetuity

1 : the quality, state, or duration of being perpetual devised to them in perpetuity
2 a : the condition of a future estate limited in such a way as not to vest within the period fixed by law for the vesting of an           estate;
also : a limitation that gives rise to such a situation
b : an estate that will not vest within the period fixed by law — see also rule against perpetuities, statutory rule against
perpetuities
3 : an annuity payable forever