Property Management
Under Wisconsin Wis. Stat. § 704.13, a landlord's failure to maintain a rental unit in habitable condition gives the tenant the right to:
AImmediately terminate the lease without any notice
BRepair the condition and deduct from rent, or other remedies provided by law✓ Correct
CWithhold all rent indefinitely with no obligation to vacate
DSue the landlord for the property's market value
Explanation
Wisconsin Wis. Stat.
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Key Terms to Know
Escrow
A neutral third-party arrangement where funds, documents, and instructions are held until all conditions of a real estate transaction are satisfied.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
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