Wisconsin § 700.17 - Classification and characteristics of certain concurrent interests.

§ 700.17. Classification and characteristics of certain concurrent interests.

700.17(1) (1) Classification of concurrent interests. Interests in property may be owned concurrently by 2 or more persons as joint tenants or as tenants in common. A joint tenancy or tenancy in common established exclusively between spouses after the determination date is classified as provided under s. 766.60 (4) (b) . 700.17(2) (2) Characteristics of joint tenancy. 700.17(2)(a) (a) Each of 2 or more joint tenants has an equal interest in the whole property for the duration of the tenancy, irrespective of unequal contributions at its creation. On the death of one of 2 joint tenants, the survivor becomes the sole owner; on the death of one of 3 or more joint tenants, the survivors are joint tenants of the entire interest. If a survivor disclaims under s. 854.13 (2) (b) , the joint tenancy is severed as of the date of death with respect to the disclaimed interest. 700.17(2)(am) (am) Survivorship under par. (a) is governed by s. 854.03 (2) . 700.17(2)(b) (b) If a joint tenant unlawfully and intentionally kills another joint tenant of the same property, the disposition of the deceased joint tenant’s interest in the joint tenancy is governed by s.