Wisconsin Statutes 700.06 – Interest for life of another; succession
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Terms Used In Wisconsin Statutes 700.06
- Person: includes all partnerships, associations and bodies politic or corporate. See Wisconsin Statutes 990.01
- Property: includes real and personal property. See Wisconsin Statutes 990.01
An interest measured by the life of a person other than the owner of the interest passes on the death of the owner, if the owner’s death is prior to the death of the person who is the measuring life, as an asset of the owner’s estate and is realty or personalty according to the nature of the property subject to the interest.