Wisconsin Statutes 700.01 – Definitions
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In this chapter, unless the context indicates otherwise:
Terms Used In Wisconsin Statutes 700.01
- Contract: A legal written agreement that becomes binding when signed.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Personal property: All property that is not real property.
- Personal property: includes money, goods, chattels, things in action, evidences of debt and energy. See Wisconsin Statutes 990.01
- Property: includes real and personal property. See Wisconsin Statutes 990.01
(1) “Bill of sale” means an instrument evidencing a sale of tangible personal property which names the seller and buyer and describes the property sold.
(2) “Document of title” means a document which is evidence of ownership of certain kinds of personal property, tangible or intangible, the ownership of which may be transferred by transfer of the document; it includes but is not limited to an investment security, a negotiable instrument and a certificate of title to tangible personal property; it does not include items excepted in s. 700.22.
(3) “Instrument of transfer” means an instrument which is effective to transfer an interest in property; it includes but is not limited to a will, a deed, a contract to transfer, a real estate mortgage and an instrument creating a security interest in personal property under ch. 409.
(4) “Interest” means an interest in property.
(5) “Property” means real or personal property.
(6) “Successors in interest” means persons who obtain a reversionary interest by transfer or operation of law.
(7) “Transfer” means a transfer effective during the lifetime of the transferor or by reason of the transferor’s death.