Terms Used In Wisconsin Statutes 700.19
- common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
- Following: when used by way of reference to any statute section, means the section next following that in which the reference is made. See Wisconsin Statutes 990.01
- joint tenancy: A form of property ownership in which two or more parties hold an undivided interest in the same property that was conveyed under the same instrument at the same time. A joint tenant can sell his (her) interest but not dispose of it by will. Upon the death of a joint tenant, his (her) undivided interest is distributed among the surviving joint tenants.
- mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Property: includes real and personal property. See Wisconsin Statutes 990.01
- right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
- tenancy in common: A type of property ownership in which two or more individuals have an undivided interest in property. At the death of one tenant in common, his (her) fractional percentage of ownership in the property passes to the decedent
Does a spouse need to be on deed to inherit house? [Reply/Read more]
three owners on a tenant in common. If one owner dies & leaves their share to a spouse in a Will, does it have to be probated [Reply/Read more]
Original owner sold farm to purchaser, then paid new owner $50,000 for ability to continue living in house on farm for remainder of her life. The new owner secured a loan for purchase of the entire … [Reply/Read more]
can a joint tenant be responsible for a defeciency on a mortgage she did not sign? [Reply/Read more]