Q: Is it illegal to offer a land contract at zero % interest in Wisconsin?
A: In Wisconsin, it is not inherently illegal to offer a land contract at zero percent interest. A land contract is a legitimate arrangement where the seller finances the sale of a property to the buyer. The interest rate and terms of a land contract are typically negotiable between the parties involved. While offering a zero percent interest rate might not violate the law, it's important to consider potential implications such as usury laws and tax considerations. Usury laws, if applicable, may regulate the maximum interest rates that can be charged on loans or contracts. Additionally, offering a land contract at zero percent interest may have tax implications for both the buyer and the seller.
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