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Wis. Stat. § 703.34

Blanket mortgages and other blanket liens affecting a unit at time of first conveyance

Known as the Condominium Ownership Act

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

1977 c. 407.

As a condition to the first transfer of title to each unit:

(1) Every mortgage and other lien affecting such unit, includCONDOMINIUMS 703.36523 ing the undivided interest in the common areas and facilities appurtenant to such unit, shall be paid and satisfied of record;

(2) A unit being transferred and an undivided interest in the common areas and facilities appurtenant thereto shall be released by partial release duly recorded; or (3) A mortgage or other lien shall provide for or be amended to provide for a release of the unit and the undivided interest in the common areas and facilities appurtenant thereto from the lien of a mortgage or other lien upon the payment of a sum certain.

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