Wisconsin Statutes 16.301 – Definitions
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Terms Used In Wisconsin Statutes 16.301
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Following: when used by way of reference to any statute section, means the section next following that in which the reference is made. See Wisconsin Statutes 990.01
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
- Person: includes all partnerships, associations and bodies politic or corporate. See Wisconsin Statutes 990.01
- Property: includes real and personal property. See Wisconsin Statutes 990.01
- State: when applied to states of the United States, includes the District of Columbia, the commonwealth of Puerto Rico and the several territories organized by Congress. See Wisconsin Statutes 990.01
(1) “Community-based organization” means an organization operating in a specific geographic area that is organized primarily to provide housing opportunities for persons or families of low or moderate income, and that is one of the following:
(a) A nonstock corporation organized under ch. 181 that is a nonprofit corporation, as defined in s. 181.0103 (17).
(c) A federally recognized American Indian tribe or band in this state or an entity established by a federally recognized American Indian tribe or band.
(2) “Housing authority” means any of the following:
(b) A redevelopment authority or housing and community development authority exercising the powers of a housing authority under s. 66.1333 (3) or 66.1335 (4).
(c) A housing authority organized by the elected governing body of a federally recognized American Indian tribe or band in this state.
(3) “Housing costs” means whichever of the following applies:
(a) For housing occupied by the owner, any of the following:
1. The principal and interest on a mortgage loan that finances the purchase of the housing.
2. Closing costs and other costs associated with a mortgage loan.
3. Mortgage insurance.
4. Property insurance.
5. Utility-related costs.
6. Property taxes.
7. If the housing is owned and occupied by members of a cooperative or an unincorporated cooperative association, fees paid to a person for managing the housing.
(b) For rented housing, any of the following:
1. Rent.
3. Utility-related costs, if not included in the rent.
(6) “Utility-related costs” means costs related to power, heat, gas, light, water and sewerage.