LRB-0627/1
MES&PJK:jld:sh
2007 - 2008 LEGISLATURE
February 22, 2007 - Introduced by Representatives Albers, Molepske, Townsend,
A. Ott, Mursau and
Hahn, cosponsored by Senators S. Fitzgerald, Lassa,
Olsen and Schultz. Referred to Committee on Agriculture.
AB115,1,3
1An Act to create 88.41 (5) and 88.95 of the statutes;
relating to: requiring a
2seller of real property located in a drainage district to disclose the location of
3the property within a drainage district.
Analysis by the Legislative Reference Bureau
Under current law, with certain exceptions, owners selling residential real
property must give prospective buyers a form, known as a real estate condition
report, on which the owner discloses certain conditions of the real property of which
the owner is aware. This bill requires an owner of property located in a drainage
district to disclose in a separate written notification to a potential buyer or transferee
that the land is in a drainage district and subject to assessments for maintenance of
the drains. A prospective buyer may rescind the contract without penalty or loss of
earnest money within two days after receiving the separate notice or if the transferor
does not provide the separate notice within ten days after an offer to purchase is
accepted. The bill also requires a drainage board, when issuing an assessment, to
remind the person receiving the assessment of the notification requirement that is
created in this bill.
For further information see the state and local fiscal estimate, which will be
printed as an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
AB115, s. 1
1Section
1. 88.41 (5) of the statutes is created to read:
AB115,2,42
88.41
(5) Whenever a drainage board sends out an assessment for costs, as
3described in this section, the board shall include a notice reminding the person
4assessed of the requirement under s. 88.95.
AB115, s. 2
5Section
2. 88.95 of the statutes is created to read:
AB115,2,9
688.95 Notification requirement to transfer land. (1) All persons who
7transfer land that is located within a district shall provide written notice to the
8prospective buyer or transferee that the land is located within a drainage district and
9is subject to assessments under this chapter for maintenance of the drains.
AB115,2,12
10(2) Sections 709.02 (1) and 709.04 to 709.08, as they apply to the reporting
11requirement under ch. 709 with respect to transfers under s. 709.01, apply to the
12notice requirement under sub. (1) with respect to transfers under sub. (1).
AB115,2,1514
(1) The treatment of section 88.41 (5) of the statutes first applies to an
15assessment that is sent out on the effective date of this subsection.
AB115,2,1716
(2) The treatment of section 88.95 of the statutes first applies to an accepted
17offer that is received by a prospective buyer on the effective date of this subsection.
