2009 WISCONSIN ACT 348
An Act to repeal 779.32 (3) (c); to amend 779.32 (2) (b), 779.32 (2) (c), 779.32 (3) (intro.), 779.32 (4) (a) (intro.), 779.32 (4) (a) 1., 779.32 (4) (a) 2. a. and b., 779.32 (4) (b) (intro.), 779.32 (4) (b) 4., 779.32 (4) (c), 779.32 (4) (d), 779.32 (4m), 779.32 (8) (a) 1., 779.32 (8) (a) 2., 779.32 (8) (c) 2., 840.11 (1) and 840.11 (2); to repeal and recreate 779.32 (8) (b) and 779.32 (9); and to create 706.085, 779.32 (1) (d), 779.32 (2m), 779.32 (8) (am), 779.32 (10) and 779.32 (11) of the statutes; relating to: commercial real estate liens and recording a correction instrument and a lis pendens.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
348,1
Section
1. 706.085 of the statutes is created to read:
706.085 Correction instruments. (1) Entitled to be recorded; purposes. An instrument correcting a previously recorded conveyance shall be entitled to record in accordance with s. 706.05 in the office of the register of deeds of the county in which the conveyance is recorded and shall include one or more of the following:
(a) The correction of a legal description, including a distance; angle; direction; bearing; chord; lot, block, unit, or building number or letter; appurtenant easement; section number; township name or number; municipality, county, or state name; range number or meridian; certified survey map number; or subdivision or condominium name.
(b) The addition, correction, or clarification of information other than a legal description, including any of the following information:
1. A party's name, including the spelling of the name; a first or middle name or initial; a name suffix, such as senior or junior; alternate names by which the party is known; or a description of an entity as a corporation, company, or similar identifier.
2. A party's marital status.
3. The date on which the conveyance was executed.
4. Whether the property is a homestead.
5. The tax parcel number.
6. The identity of the drafter.
7. The recording data for an instrument referenced in the conveyance.
8. The nature and purpose of the conveyance.
9. The title of the conveyance.
10. Facts relating to the acknowledgment or authentication.
(c) The addition of an acknowledgment or authentication.
(d) The disclaimer by a grantee under a deed of that party's interest in the real property that is the subject of the deed.
(e) The addition of a mortgagee's consent or subordination.
(2) Execution requirements. (a) A correction instrument shall be acknowledged or authenticated in accordance with s. 706.06 or 706.07. It shall recite the document number of the conveyance, the names of the grantor and grantee, and, if given on the conveyance, the volume and page numbers.
(b) 1. Except as otherwise provided in this paragraph, a correction instrument that is executed after the effective date of this subdivision .... [LRB inserts date], may be executed by a person having personal knowledge of the circumstances of the conveyance and of the facts recited in the correction instrument, including the grantor, the grantee, the person who drafted the conveyance that is the subject of the correction instrument, or the person who acted as the settlement agent in the transaction that is the subject of the conveyance, and shall recite the basis for the person's personal knowledge. A correction instrument that was executed before the effective date of this subdivision .... [LRB inserts date], is not rendered ineffective by reason of the instrument's failure to recite that the maker had the knowledge or capacity required under this subdivision.
2. A correction instrument that makes the correction under sub. (1) (e) shall be signed by the consenting party, or an heir, successor, or assignee of the party.
3. A correction instrument that adds, removes, or replaces a divisible parcel in a conveyance shall be signed by the following persons:
a. If the correction instrument supplies a lot, block, unit, or building number or letter that was omitted from a conveyance, by any party identified in subd. 1.
b. If a parcel is being added to a conveyance that also correctly conveys other land, only by the grantor.
c. If a parcel is being removed from a conveyance that also correctly conveys other land, only by the grantee.
d. If a lot or unit number or letter is being corrected and the lot or unit incorrectly recited in the conveyance is also owned by the grantor, only by the grantee.
e. If a lot, block, unit, or building number or letter is being corrected and the lot or unit incorrectly recited in the conveyance is not also owned by the grantor, by any party identified in subd. 1.
(c) A person who executes and records a correction instrument shall send notice of that fact by 1st class mail to all parties to the transaction that was the subject of the conveyance at their last-known addresses.
(3) Effect of record. All of the following apply to the record of a correction instrument that complies with this section, or a certified copy of the record:
(a) It is prima facie evidence of the facts stated in the instrument; is presumed to be true, subject to rebuttal; and constitutes notice to a purchaser under s. 706.09 of the facts recited in the instrument.
(b) It may be asserted by a purchaser for a valuable consideration against any person making an adverse or inconsistent claim under s. 706.09 (1) (i).
(4) Previously recorded instruments are valid. Any instrument recorded before the effective date of this subsection .... [LRB inserts date], that purports to correct a previously recorded conveyance and that would have been a valid correction instrument under this section had this section been in effect when the instrument was recorded is hereby validated.
348,2
Section
2. 779.32 (1) (d) of the statutes is created to read:
779.32 (1) (d) "Tenant representation agreement" means an agency agreement between a broker and a person that grants the broker the right to represent the person in the lease of commercial real estate.
348,3
Section
3. 779.32 (2) (b) of the statutes is amended to read:
779.32 (2) (b) If the broker has earned a commission under a written commercial real estate buyer agency agreement or tenant representation agreement, the broker has a lien for the unpaid amount of the commission against the commercial real estate, or the interest in commercial real estate, that is acquired as a result of the agreement.
348,4
Section
4. 779.32 (2) (c) of the statutes is amended to read:
779.32 (2) (c) If the broker has earned compensation from the owner or landlord under a written agreement for the lease or management of commercial real estate or under a tenant representation agreement, the broker has a lien for the unpaid amount of the compensation against the commercial real estate for which the leasing or management services were provided under the agreement.
348,5
Section
5. 779.32 (2m) of the statutes is created to read:
779.32 (2m) Notice of
lien rights. (a) To claim a lien under sub. (2), the broker shall notify the person who owes the commission or compensation described in sub. (2) (a), (b), or (c) in writing of the right to claim a lien under this section. A broker shall include the notice required under this subsection in the commercial real estate listing contract, commercial real estate buyer agreement, tenant representation agreement, or written agreement for the lease or management of commercial real estate.
(b) The notice required under this subsection shall be in substantially the following form:
NOTICE: A broker has the authority under section 779.32 of the Wisconsin Statutes to file a broker lien for commissions or compensation earned but not paid when due against the commercial real estate, or the interest in the commercial real estate, that is the subject of this agreement.
348,6
Section
6. 779.32 (3) (intro.) of the statutes is amended to read:
779.32 (3) Notice of
intent to claim lien interest. (intro.) A broker has In addition to the requirements of sub. (2m), to claim a lien under sub. (2) (a) or (b) only if, the broker files or records shall record a written notice of intent to claim a lien interest under this section at the office of the register of deeds for the county in which the commercial real estate is located and delivers a copy of the notice to the person owing the commission under sub. (2) (a) or (b). A broker has a lien under sub. (2) (c) only if the broker provides a written notice of intent to claim a lien under this section to the person owing the compensation under sub. (2) (c). All notices. A notice required under this subsection shall contain the name of each party to the agreement under which the lien
interest is claimed, the date that the agreement was entered into and a brief description of the commercial real estate
on which the lien is intended to be claimed. All notices that is subject to the lien rights. A notice required under this subsection shall be provided within the following time periods:
348,7
Section
7. 779.32 (3) (c) of the statutes is repealed.
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Section
8. 779.32 (4) (a) (intro.) of the statutes is amended to read:
779.32 (4) (a) (intro.) A lien under this section is perfected when a broker files records a notice of lien in the office of the register of deeds for the county in which the commercial real estate is located. The lien must be perfected no later than the following:
348,9
Section
9. 779.32 (4) (a) 1. of the statutes is amended to read:
779.32 (4) (a) 1. In the case of a lien under sub. (2) (a) or (b), 3 days prior to 30 days after the date that the conveyance documents are recorded with the register of deeds in the county where the real property, that is the subject of the listing contract or buyer agency contract agreement, is located.
348,10
Section
10. 779.32 (4) (a) 2. a. and b. of the statutes are amended to read:
779.32 (4) (a) 2. a. The date that the broker earns a commission or compensation that gives rise to a lien under this section. For purposes of this subd. 2. a., a commission or compensation is considered earned on the date that payment of it is due under the lease, tenant representation agreement, or management agreement.
b. The date that the broker receives notice that he or she has earned a commission or compensation that gives rise to a lien under this section. For purposes of this subd. 2. b., a commission or compensation is considered earned on the date that the payment of it is due under the lease, tenant representation agreement, or management agreement.
348,11
Section
11. 779.32 (4) (b) (intro.) of the statutes is amended to read:
779.32 (4) (b) (intro.) The notice of lien shall be signed by the broker and shall include all of the following information:
348,12
Section
12. 779.32 (4) (b) 4. of the statutes is amended to read:
