perpetuity

Meanings

1. 1
   noun

   endless or indefinitely continuing duration, especially in the phrase in perpetuity

   The conservation covenant protects the wetlands in perpetuity.

2. 2
   noun

   an investment or annuity that makes payments indefinitely and has no maturity date

   The foundation bought a perpetuity that would provide a fixed annual payment forever.

3. 3
   noun

   a legal restriction on the transfer or ownership of property that is intended to last indefinitely

   The rule against perpetuities prevents owners from controlling property too far into the future.

From Middle English perpetuitee, through Old French perpetuite, from Latin perpetuitas, 'continuity or eternity,' based on perpetuus, 'continuous, unbroken.' The legal and financial senses apply the idea of unending duration to property restrictions and streams of payment.

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