Wisconsin Statutes 704.40 – Remedies available when tenancy dependent upon life of another terminates
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Wisconsin Statutes 704.40
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Life estate: A property interest limited in duration to the life of the individual holding the interest (life tenant).
- Person: includes all partnerships, associations and bodies politic or corporate. See Wisconsin Statutes 990.01
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
- Remainderman: One entitled to the remainder of an estate after a particular reserved right or interest, such as a life tenancy, has expired.
- Year: means a calendar year, unless otherwise expressed; "year" alone means "year of our Lord". See Wisconsin Statutes 990.01
(1) Any person occupying premises as tenant of the owner of a life estate or any person owning an estate for the life of another, upon cessation of the measuring life, is liable to the owner of the reversion or remainder for the reasonable rental value of the premises for any period the occupant remains in possession after termination of the life estate. Rental value as used in this section has the same meaning as rental value defined in s. 704.27.
(2) The owner of the reversion or remainder can remove the occupant in any lawful manner including eviction proceedings under ch. 799 as follows:
(a) If the occupant has no lease for a term, upon terminating the occupant’s tenancy by giving notice as provided in s. 704.19;
(b) If the occupant is in possession under a lease for a term, upon termination of the lease or one year after written notice to the occupant given in the manner provided by s. 704.21 whichever occurs first, except that a farm tenancy can be terminated only at the end of a rental year.
(3) The occupant must promptly after written demand give information as to the nature of the occupant’s possession. If the occupant fails to do so, the reversioner or remainderman may treat the occupant as a tenant from month-to-month.