{"data":{"id":"us-wi/wis.-stat.-700.02","jurisdiction":"us-wi","citation":"Wis. Stat. § 700.02","heading":"Classification of interests in property as to duration.","body":"Interests in property are classified as to duration as:\n(1) A fee simple absolute;\n(2) A defeasible fee simple which may be a fee simple determinable automatically expiring upon the occurrence of a stated event, a fee simple subject to a condition subsequent with a power in the transferor or the transferor’s successors in interest to reacquire the fee by reason of a breach of the condition, or a fee simple with a remainder over to a person other than the transferor or the transferor’s successors in interest to take effect upon the occurrence of a stated event; for purposes of this subsection, a stated event can be either the happening, or the nonhappening, of a specified occurrence, and can be either certain or not certain to happen;\n(3) An interest for life, which may be created for the duration of a life or lives of one or more human beings;\n(4) An interest for years, which is any interest the duration of which is described in units of a year or multiples or divisions thereof;\n(5) A periodic interest, which will continue for successive periods of a year, or successive periods of a fraction of a year, unless terminated;\n(6) An interest at will, which is terminable at the will of either the transferor or the transferee and has no designated period of duration.","path":["Chs. 700-711, Property","Chapter 700 Interests In Property"],"source_url":"https://docs.legis.wisconsin.gov/document/statutes/700.02","current_through":"2023-24 Wisconsin Statutes updated through 2025 Wis. Act 247 (published 9-4-26)","vintage":"","retrieved_at":"2026-09-05T12:01:33Z","sha256":"df7f9b371a5ac7a9b9689121cc106bc4452065a5fe609ec0109db014218cd5e6","source_id":"us-wi","stale":false,"prev":"us-wi/wis.-stat.-700.01","next":"us-wi/wis.-stat.-700.03"},"notice":"GroundRules: Original legal text. Not legal advice."}