accounts when established in the 1970s, named a newly born son of one of the Merrill Lynch executives by whom to measure the duration as 21 years beyond the demise of that child. At the end of the period the assets of the trust then are to be distributed to the beneficiaries and the trust extinguished. Common English practice was to create a trust whose term ended upon the demise of the last living heir of her Britannic Majesty Queen Victoria whose descendants are well known but even that practice is discouraged. But the Southland Royalty Trust was created to endure until the demise of the last living descendant of signors of the Declaration of Independence, who are unknown thereby creating an entity that likely violates the rule against perpetuities because it can never end hence the gap in seisin never can close. See also Livery of seisin Moot hill Sasine ceremony of barony rights. Quia Emptores Sasine (Scots law) Sources Encyclopædia Britannica, 9th. ed., vol. 21, p. 626, Seisin References Real property law Property law English legal terminology