AB690-ASA1,9,2421
2. If a sale is conducted using an Internet-based auction, the person conducting
22the sale may accept payment of any amounts under par. (a) by credit card, debit card,
23or other electronic payment method and may charge a surcharge to the payer to
24recover charges associated with accepting the electronic payment.
AB690-ASA1,10,4
13. If a sale is conducted using an Internet-based auction, the person conducting
2the sale shall, on the Internet site on which the Internet-based auction is conducted,
3provide any potential bidder with a conspicuous statement identifying any lien or
4other encumbrance described in the notice under sub. (1) (bm) 2. e.
AB690-ASA1,19
5Section
19. 846.16 (1r) (title) of the statutes is created to read:
AB690-ASA1,10,66
846.16
(1r) (title)
Procedures after sale.
AB690-ASA1,20
7Section
20. 846.16 (1r) (b) (title) of the statutes is created to read:
AB690-ASA1,10,88
846.16
(1r) (b) (title)
Deductions from proceeds; transmittals to clerk of court.
AB690-ASA1,21
9Section
21. 846.16 (1r) (c) of the statutes is created to read:
AB690-ASA1,10,1210
846.16
(1r) (c)
Deed held until confirmation. The clerk of court shall hold a deed
11delivered to the clerk of court under par. (b) 2. a. until confirmation of the sale under
12sub. (2m).
AB690-ASA1,23
15Section
23. 846.16 (2m) (a) (title) of the statutes is created to read:
AB690-ASA1,10,1616
846.16
(2m) (a) (title)
Preparation of real estate transfer return.
AB690-ASA1,24
17Section
24. 846.16 (2m) (am) of the statutes is created to read:
AB690-ASA1,10,2018
846.16
(2m) (am)
Payment of sale proceeds upon confirmation. Upon
19confirmation of a sale of mortgaged premises, the clerk of court shall pay to the
20parties entitled thereto, or to their attorneys, the proceeds of the sale.
AB690-ASA1,25
21Section
25. 846.16 (2m) (b) (title) of the statutes is created to read:
AB690-ASA1,10,2222
846.16
(2m) (b) (title)
Payments by purchaser.
AB690-ASA1,11,2
1846.16
(2m) (b) 2. a. The deed to the mortgaged premises delivered under sub.
2(1) (1r) (b)
2. a.
AB690-ASA1,27
3Section
27. 846.16 (2m) (b) 3. of the statutes is created to read:
AB690-ASA1,11,44
846.16
(2m) (b) 3. Any part of the purchase price remaining to be paid.
AB690-ASA1,28
5Section
28. 846.16 (2m) (c) (title) of the statutes is created to read:
AB690-ASA1,11,66
846.16
(2m) (c) (title)
Delivery of real estate transfer return receipt.
AB690-ASA1,29
7Section
29. 846.16 (3m) (a) (intro.), 1. and 2. of the statutes, as affected by
2017
8Wisconsin Act 104, are renumbered 846.16 (3m) (intro.), (am) and (bm) and amended
9to read:
AB690-ASA1,11,1510
846.16
(3m) Transmittal to register of deeds. (intro.) Upon the court
11confirming
the a sale of mortgaged premises and upon compliance by the purchaser
12with the terms of the sale and the payment of any balance of the sale price to be paid,
13unless otherwise ordered by the court, the clerk of court shall do one of the following
14to transmit the deed to the mortgaged premises received under sub.
(1) (1r) (b)
2. a. 15to the register of deeds for recording:
AB690-ASA1,11,1916
(am) Deliver the deed to the mortgaged premises received under sub.
(1) (1r) 17(b)
2. a., the receipt for submitting a transfer return under s. 77.22, the amount due
18under s. 59.43 (2) to record the deed and any other document required to record the
19deed, and the transfer fee, if any, to the register of deeds.
AB690-ASA1,12,220
(bm) Notify the register of deeds that the deed to the mortgaged premises
21received under sub.
(1) (1r) (b)
2. a., the receipt for submitting a transfer return under
22s. 77.22, the amount due under s. 59.43 (2) to record the deed and any other document
23required to record the deed, and the transfer fee, if any, are available in the clerk's
24office. If a register of deeds is notified under this
subdivision paragraph, the register
1of deeds shall retrieve the documents and fees from the clerk of courts within a
2reasonable period of time.
AB690-ASA1,12,175
846.16
(2m) (as)
Effect of deed upon confirmation. Upon Unless the deed is
6destroyed as provided in sub. (4) (a), upon confirmation of
the a sale
of mortgaged
7premises, the deed executed under sub.
(1)
(1r) (a) shall vest in the purchaser, the
8purchaser's assigns, or personal representatives all the right, title, and interest of
9the mortgagor, the mortgagor's heirs, personal representatives, and assigns in and
10to the premises sold and
shall be is a bar to all claim, right of equity of redemption
11therein, of and against the parties to
such the action, their heirs,
and personal
12representatives, and
against all persons claiming under them subsequent to the
13filing of the notice of the pendency of the action in which such judgment was
14rendered; and the purchaser, the purchaser's heirs, or assigns shall be let into the
15possession of the premises so sold on production of
such the deed or a duly certified
16copy
thereof of the deed, and the court may, if necessary, issue a writ of assistance
17to deliver
such that possession.
AB690-ASA1,12,2120
846.16
(4) (title)
No confirmation of sale; effect of failure to comply with
21confirmation requirements; resale.
AB690-ASA1,13,624
846.16
(4) (a) If any of the requirements under sub. (2m)
(a) and (b) are not
25satisfied and the purchaser is not the judgment creditor, the court shall order the
1purchaser to forfeit the amount of the purchaser's deposit or down payment
delivered
2to the clerk of court under sub. (1r) (b) 2. b., and
the clerk of court shall pay that
3amount
shall be paid to the parties
who that would be entitled to the proceeds of the
4sale as ordered by the court. The court shall also order that the mortgaged premises
5be resold. The clerk of court shall destroy the deed executed to the defaulting
6purchaser
under sub. (1r) (a), and
it shall be that deed is of no effect.
AB690-ASA1,13,139
846.16
(4) (b) If any of the requirements under sub. (2m)
(b) and (c) are not
10satisfied and the purchaser is the judgment creditor, the court may order the
11purchaser to forfeit the greater of the purchaser's deposit or $500
, and order the
12purchaser to comply with sub. (2m)
(b) and (c) so that the mortgaged property may
13be sold to the purchaser.
AB690-ASA1,13,2116
846.16
(4) (c) If the court does not confirm
the a sale of
the mortgaged premises
17for a reason other than a failure to satisfy a requirement under sub. (2m)
(a), (b), or
18(c), the clerk of court shall return the deposit or down payment
delivered to the clerk
19of court under sub. (1r) (b) 2. b. to the purchaser
, and
the court shall order the
20mortgaged premises to be resold. The clerk of court shall destroy the deed received
21under sub.
(1) (1r) (b)
2. a., and
it shall be that deed is of no effect.
AB690-ASA1,35
22Section
35. 846.165 (1) of the statutes is renumbered 846.165.
AB690-ASA1,36
23Section
36. 846.165 (2) of the statutes is renumbered 846.16 (2m) (ae) and
24amended to read:
AB690-ASA1,14,7
1846.16
(2m) (ae)
Determination of fair value of mortgaged premises. In case
2the If mortgaged premises sell for less than the amount due and to become due on
3the mortgage debt and costs of sale, there
shall be
is no presumption that
such the
4mortgaged premises sold for their fair value
, and
no sale shall be confirmed and the
5court may not confirm the sale or render a judgment for deficiency
rendered, until
6the court is satisfied that the fair value of the
mortgaged premises sold has been
7credited on the mortgage debt, interest
, and costs.