...personal property. In New York, the rule is modified by statute as respects both, and it is provided that the absolute ownership of personal property shall not be suspended, by any condition or limitation whatever, for a longer period than during the continuance and until the termination...

...of the Civil Code relating to perpetuities : "Section 715. The absolute power of alienation cannot be suspended, by any limitation or condition whatever,...for a longer period than during the continuance of the lives of persons in being at the creation of the limitation or condition, except in the single...

...possession cau be conveyed. "§ 15. The absolute power of alienation shall not be suspended by nny limitation or condition whatever, for a longer period than during the continuance of not more than two lives in hcin<; at the creation of the estate, except in the single case mentioned...