Section 1.261. Additional charges; equivalent security interest.

Latest version.

The term"equivalent security interest" as used in s. 422.202 (2) (b) , Stats., shall include a seller's interest under a land contract or a first lien deed of trust, and a second mortgage where there are no intervening liens and the mortgagee holds the first mortgage on the subject property. For cross reference application of this definition, see also ss. 422.303 (4) , 422.306 (2) , 422.408 (6) , 422.409 (2) and 422.411 (2) , Stats.

Cr. Register, June, 1973, No. 210 , eff. 7-1-73.

                    
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