Wisconsin Statutes 840.01 – Definition of interest in real property
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Terms Used In Wisconsin Statutes 840.01
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- homestead: means the dwelling and so much of the land surrounding it as is reasonably necessary for use of the dwelling as a home, but not less than one-fourth acre, if available, and not exceeding 40 acres. See Wisconsin Statutes 990.01
- Land: includes lands, tenements and hereditaments and all rights thereto and interests therein. See Wisconsin Statutes 990.01
(1) Except as provided in sub. (2), “interest in real property” includes estates in, powers of appointment under ch. 702 over, present and future rights to, title to, and interests in real property, including, without limitation by enumeration, security interests and liens on land, easements, profits, rights of appointees under powers of appointment, rights under covenants running with the land, powers of termination, and homestead rights. The interest may be an interest that was formerly designated legal or equitable. The interest may be surface, subsurface, suprasurface, riparian, or littoral.
(2) “Interest in real property” does not include interests held only as a member of the public nor does it include licenses.