Need help reviewing a real estate contract? Chat with an attorney and protect your rights.

Terms Used In Wisconsin Statutes 703.14

  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.
   (1)    The common elements may be used only for the purposes for which they were intended and, except as provided in the condominium instruments or bylaws, the common elements are subject to mutual rights of support, access, use and enjoyment by all unit owners. However, any portion of the common elements designated as limited common elements may be used only by the unit owner of the unit to which their use is limited in the condominium instruments and bylaws.
   (2)   The declaration or bylaws may allow any unit owner of a unit to which the use of any limited common element is restricted to grant by deed, subject to the rights of any existing mortgagee, the use of the limited common element to any other unit owner. Thereafter, the grantor has no further right to use the limited common element.