CONVEYANCES OF REAL PROPERTY; RECORDING; TITLES
Scope and construction.
Agents, officers and guardians.
Formal requisites for record.
Register of mineral rights.
Lapse and reversion of interests in minerals.
Uniform law on notarial acts.
Notice of conveyance from the record.
Applicability of general transfers at death provisions.
Priority of certain mortgages, trust funds.
Uniform vendor and purchaser risk act.
Transitional and curative provisions.
Liens against public officials or employees.
Disclosure duty; immunity for providing notice about the sex offender registry.
Uniform real property electronic recording act.
Scope and construction. 706.001(1)
Subject to the exclusions in sub. (2)
, this chapter shall govern every transaction by which any interest in land is created, aliened, mortgaged, assigned or may be otherwise affected in law or in equity.
Excluded from the operation of this chapter are transactions which an interest in land is affected:
By lease for a term limited to one year or less; or by contract or option to lease for such period which postpones the commencement of the agreed lease to a time not later than 60 days after the date of the contract or option; or by assignment, modification or termination of lease when, at the time such assignment, modification or termination is made, the unexpired term is limited to one year or less, and remains so limited under the lease as modified; except that instruments relating to such excluded transactions, if in recordable form, shall be entitled to record.
This chapter shall be liberally construed, in cases of conflict or ambiguity, so as to effectuate the intentions of parties who have acted in good faith.
History: 1999 a. 85
; 2005 a. 206
In this chapter:
"Conveyance" means a written instrument, evidencing a transaction governed by this chapter, that satisfies the requirements of s. 706.02
, subject to s. 706.25
"Conveyance of mineral interests" means any transaction under s. 706.001 (1)
entered into for the purpose of determining the presence, location, quality or quantity of metalliferous minerals or for the purpose of mining, developing or extracting metalliferous minerals, or both. Any transaction under s. 706.001 (1)
entered into by a mining company is rebuttably presumed to be a conveyance of mineral interests.
"Grantor" means the person from whom an interest in lands passes by conveyance, including, without limitation, lessors, vendors, mortgagors, optionors, releasors, assignors and trust settlors of interest in lands, and "grantee" means the person to whom the interest in land passes. Whenever consistent with the context, reference to the interest of a party includes the interest of the party's heirs, successors, personal representatives and assigns.
"Homestead", as used in this chapter, 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.
"Interest in minerals" means any fee simple interest in minerals beneath the surface of land that is:
Separate from the fee simple interest in the surface of the land; and
Created by an instrument transferring, granting, assigning or reserving the minerals.
"Legal description" means a description of a specific parcel of real estate that is described in one of the following ways, whichever is appropriate:
By condominium name, unit number, and appurtenance number in a platted condominium development.
"Metalliferous minerals" means naturally occurring minerals containing metal.
"Mineral" means a naturally occurring substance recognized by standard authorities as mineral, whether metalliferous or nonmetalliferous.
"Mining company" means any person or agent of a person who has a prospecting or mining permit under s. 293.45
"Signed" includes any handwritten signature or symbol on a conveyance intended by the person affixing or adopting the signature or symbol to constitute an execution of the conveyance.
The doctrine of part performance is not an "operation of law" under sub. (2) (a) that excludes the application of ch. 706 to a transaction. Wyss v. Albee, 183 Wis. 2d 245
, 515 N.W.2d 517
(Ct. App. 1994).
Formal requisites. 706.02(1)(1)
Transactions under s. 706.001 (1)
shall not be valid unless evidenced by a conveyance that satisfies all of the following:
Identifies the interest conveyed, and any material term, condition, reservation, exception or contingency upon which the interest is to arise, continue or be extinguished, limited or encumbered; and
Is signed by or on behalf of each of the grantors; and
Is signed by or on behalf of all parties, if a lease or contract to convey; and
Is signed, or joined in by separate conveyance, by or on behalf of each spouse, if the conveyance alienates any interest of a married person in a homestead under s. 706.01 (7)
except conveyances between spouses, but on a purchase money mortgage pledging that property as security only the purchaser need sign the mortgage; and