Legal Question in Real Estate Law in Wisconsin

real estate contract

What type of contract do I need to show the percentage of ownership in a home between two people when it is not a 50/50 percentage in Wisconsin?


Asked on 11/05/07, 5:05 pm

1 Answer from Attorneys

Thomas Schober Schober Schober & Mitchell, S.C.

Re: real estate contract

When two people acquire real estate, the deed which transfers the property to them is the document which would show appropriate ownership. So if A and B acquire a property, 20% to A and 80% to B, the deed would say: "to A, a 20% undivided interest, and to B, an 80% undivided interest." There still would remain the question: is the property to pass to the survivor upon the death of one? If so, additional consideration as to how to draft this deed is necessary. Likewise, if the parties are married, Wisconsin Marital Property Law applies and much additional consideration is neccessary.

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Answered on 11/06/07, 10:42 am


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