Wisconsin Real Estate License Property Ownership and Transfer Questions and Answers Flashcards
6 cards from real Wisconsin Real Estate License practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 Wisconsin Real Estate License Property Ownership and Transfer Questions and Answers flashcards as text
In Wisconsin, which type of co-ownership automatically includes the right of survivorship?
Answer: Joint tenancy
Joint tenancy in Wisconsin includes the right of survivorship, meaning a deceased co-owner's share passes directly to the surviving co-owner(s).
What is required for a valid real estate deed in Wisconsin?
Answer: Grantor signature, legal description, and delivery
A valid deed in Wisconsin must include the grantor's signature, an adequate legal description of the property, and delivery to and acceptance by the grantee.
Under Wisconsin's transfer by affidavit process, when can a Transfer on Death Deed (TODD) be revoked?
Answer: At any time before the owner's death
A Wisconsin Transfer on Death Deed can be revoked by the owner at any time before death by recording a revocation instrument with the Register of Deeds.
Which Wisconsin law governs the disclosure requirements a seller must provide to a buyer of residential real property?
Answer: Wisconsin Real Estate Condition Report statute
Wisconsin Statute 709.01 requires sellers of residential property to provide a Real Estate Condition Report disclosing known defects and conditions.
In a Wisconsin land contract (contract for deed), when does the buyer receive legal title to the property?
Answer: After all payments are completed per the contract terms
In a Wisconsin land contract, the seller retains legal title until the buyer fulfills all payment obligations, at which point the deed is delivered.
What is an easement appurtenant in Wisconsin real property law?
Answer: A right attached to a parcel of land that benefits the owner regardless of who owns it
An easement appurtenant runs with the land in Wisconsin, meaning it benefits the dominant estate and transfers automatically with ownership of that parcel.