A new paradigm in multiferroics is observed in BaCoX2O7 (X = As, P) compounds. They consist of one dimensional (1D) antiferromagnetic chains undulated by incommensurate structural modulations with unusually large atomic displacive waves, giving a mixed 1D/2D “real” magnetic topology. The magnetic ground state is antiferromagnetic (AFM) with k = [½ 0 0], leading to a nonmodulated collinear spin lattice despite the aperiodic atomic framework, and allows developing spin‐induced multiferroicity below TN. Severe arguments against the identified mechanisms for type‐II multiferroics, i.e., by inverse Dzyaloshinskii–Moriya, exchange striction and spin‐dependent p–d hybridizations, suggest an original scenario in which the atomic waves, the collinear magnetic structure, and magnetic dipole–dipole interactions may interact as crucial ingredients of the spin‐induced ferroelectric phase. Here, the specific role of the Co2+ spin–orbit coupling in the magnetoelectric (ME) phase diagram is demonstrated by comparison with the novel Heisenberg BaFeP2O7 isomorph, similarly structurally modulated. This compound shows a noncollinear modulated AFM ordering, while no ME coupling is detected in its case. Accordingly, both BaCoX2O7 and BaFeP2O7 also undergo metamagnetic transitions above 5–6 T promoted by the modulated distribution of spin exchanges, but the spin‐flop progressive alignment of the spins in the noncollinear spin structure (Fe2+ case) turns into an abrupt flip‐like transition in the uniaxial spin structure (Co2+ case).