Definition of: perpetuity

(pûr′pə·t′ə·tē, -ty′-) noun plural ·ties
1. The quality or state of being perpetual.
2. Something that has perpetual existence or worth.
3. Unending or unlimited time.
4. Law A limitation rendering property inalienable; also, the property so limited.
5. In annuities, a perpetual annuity, or the number of years' purchase to be given for it; the number of years in which the simple interest of a sum becomes equal to the principal. [<OF perpetuité <L perpetuitas <perpetuus PERPETUAL]