Wis. Stat. § 703.08

Notice prior to conversion of residential property to condominium

Known as the Condominium Ownership Act

The act spans §§ 703–703 (56 sections).

Applied in 1 court decision — leading case 172 N.J. Super. 426 - Hampshire House Sponsor Corp. v. Borough of Fort Lee (1979)

Most recently applied in 172 N.J. Super. 426 - Hampshire House Sponsor Corp. v. Borough of Fort Lee (December 1979)

1977 c. 407; 2003 a. 283; 2021 a. 168.

(1) Residential real property may not be converted to a condominium unless the owner of the residential real property gives prior written notice of the conversion to each of the tenants of the building or buildings scheduled for conversion. During the 60-day period immediately following the date of delivery of the notice a tenant has the first right to purchase the unit, if the unit is offered for sale at any time during that period, for any of the following:

(a) The price at which the unit is being offered on the market.

(b) The price contained in any accepted offer to purchase the unit.

(2) A tenant may not be required to vacate the property during the 120-day period immediately following the date of delivery of the notice required under sub.

(1) unless the tenant violates a covenant in the lease or fails to pay rent.

(3) A tenant may waive in writing his or her first right of purchase under sub. (1), his or her right to remain on the property under sub. (2), or both.

Official source: Wisconsin State Legislature. Reproduced from public-domain Wisconsin statutes; confirm against the official source for the current text. Not legal advice.