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Ep: 087 - The Rule of Perpetuity: Is it Relevant in Today's Legal World?
Manage episode 368094968 series 2953796
"On this episode of Environmentally Speaking, we dive into the intriguing world of legal practice and explore a topic that may seem unfamiliar to many - the rule of perpetuity.
We explore a real-life situation involving the O'Leary family farm in Rhode Island. Mr. O'Leary has passed away, leaving Mrs. O'Leary with the decision of how to honor the family farm and keep its legacy alive. With Mrs. O'Leary unable to manage the farm alone, the future of the land becomes uncertain. We contemplate the notion that land cannot be predetermined as forever, despite the initial promise of the land remaining as farmland. Drawing from a lovely quote by Norma O'Leary about a transaction, we are happy with how the situation ultimately plays out. The land will continue to be farmed as desired, providing a positive resolution.
As we continue to explore the O'Leary family farm and its significance as a local institution, we touch upon Rhode Island General Law and a law allowing land to be bound for a longer period of time. The Department of Environmental Management in Rhode Island plays a role in regulating land through recorded conveyances, thus preserving open space use indefinitely. This is made possible through the dem open space grant program, which is funded by voter-approved green economy bonds. The fact that Rhode Island consistently approves these bonds demonstrates their concern for the state's natural resources.
112 episodi
Manage episode 368094968 series 2953796
"On this episode of Environmentally Speaking, we dive into the intriguing world of legal practice and explore a topic that may seem unfamiliar to many - the rule of perpetuity.
We explore a real-life situation involving the O'Leary family farm in Rhode Island. Mr. O'Leary has passed away, leaving Mrs. O'Leary with the decision of how to honor the family farm and keep its legacy alive. With Mrs. O'Leary unable to manage the farm alone, the future of the land becomes uncertain. We contemplate the notion that land cannot be predetermined as forever, despite the initial promise of the land remaining as farmland. Drawing from a lovely quote by Norma O'Leary about a transaction, we are happy with how the situation ultimately plays out. The land will continue to be farmed as desired, providing a positive resolution.
As we continue to explore the O'Leary family farm and its significance as a local institution, we touch upon Rhode Island General Law and a law allowing land to be bound for a longer period of time. The Department of Environmental Management in Rhode Island plays a role in regulating land through recorded conveyances, thus preserving open space use indefinitely. This is made possible through the dem open space grant program, which is funded by voter-approved green economy bonds. The fact that Rhode Island consistently approves these bonds demonstrates their concern for the state's natural resources.
112 episodi
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