SB209: Bill Text Engrossed

SB209-engrossed,109m Section 109m. 846.16 (1) of the statutes is amended to read:

SB209-engrossed,38,19 846.16 (1) The sheriff or referee who makes sale of mortgaged premises, under a judgment therefor, shall give notice of the time and place of sale in the manner provided by law for the sale of real estate upon execution or in such other manner as the court shall in the judgment direct; where the department of veterans affairs is also a party in the foreclosure action, the judgment shall direct that notice of sale be given by registered mail, return receipt requested, to the department at Madison, Wisconsin, at least 3 weeks prior to the date of sale, but such requirement does not affect any other provision as to giving notice of sale. The Except as provided in sub. (3) and s. 846.167, the sheriff or referee shall, within 10 days thereafter, file with the clerk of the court a report of the sale, and shall also immediately after the sale first deduct any fee due under s. 77.22 (1); then deposit that fee, a return under s. 77.22 and the deed with the clerk of the court for transmittal to the register of deeds; then deduct the costs and expenses of the sale, unless the court orders otherwise, and then deposit with the clerk of the court the proceeds of the sale ordered by the court. The sheriff may accept from the purchaser at such sale as a deposit or down payment upon the same not less than $100, in which case such amount shall be so deposited with the clerk of the court as above provided, and the balance of the sale price shall be paid to the clerk by the purchaser at such sale upon the confirmation thereof. If the highest bid is less than $100, the whole amount thereof shall be so deposited.

SB209-engrossed,110m Section 110m. 846.16 (3) of the statutes is created to read:

SB209-engrossed,38,23 846.16 (3) If the mortgaged premises are located in a county having a population of 750,000 or more, no later than 10 days after the sale of the mortgaged premises, the sheriff or referee shall do all of the following:

SB209-engrossed,38,24 (a) File a report of the sale with the clerk of court.

SB209-engrossed,38,25 (b) Deliver to the clerk of court all of the following:

SB209-engrossed,39,1 1. The deed to the mortgaged premises.

SB209-engrossed,39,3 2. After deducting the costs and expenses of the sale, unless the court orders otherwise, the proceeds of the sale ordered by the court.

SB209-engrossed,111m Section 111m. 846.167 of the statutes is created to read:

SB209-engrossed,39,7 846.167 Confirmation of sale and transmittal of deed in populous counties. (1) In this section, "county" means a county having a population of 750,000 or more.

SB209-engrossed,39,9 (2) If a sheriff or referee makes a sale of mortgaged premises located in a county under a judgment of foreclosure and sale, all of the following apply:

SB209-engrossed,39,14 (a) If the purchaser is not the judgment creditor, before the court may confirm the sale, the purchaser shall provide the judgment creditor with any information required for the judgment creditor to complete the real estate transfer return under s. 77.22 and, if applicable, any information required for a certificate, waiver, or stipulation required under s. 101.122.

SB209-engrossed,39,16 (b) No later than 10 days after the court confirms the sale, the purchaser shall pay to the court all of the following:

SB209-engrossed,39,17 1. The amount of the transfer fee under s. 77.22, if any.

SB209-engrossed,39,18 2. The amount of the fee under s. 59.43 (2) to record all of the following:

SB209-engrossed,39,19 a. The deed to the mortgaged premises delivered under s. 846.16.

SB209-engrossed,39,21 b. Any other document required for the register of deeds to record the deed, including any certificate, waiver, or stipulation required under s. 101.122.

SB209-engrossed,39,24 (c) No later than 10 days after the court confirms the sale, the judgment creditor shall provide to the court the receipt for submitting a transfer return under s. 77.22 and any certificate, waiver, or stipulation required under s. 101.122.

SB209-engrossed,40,8 (3) Upon the court confirming the sale of mortgaged premises located in a county and upon compliance by the purchaser with the terms of the sale and the payment of any balance of the sale price to be paid, unless otherwise ordered by the court, the clerk of the court shall transmit the deed to the mortgaged premises received under s. 846.16, the receipt for submitting a transfer return under s. 77.22, any certificate, waiver, or stipulation required under s. 101.122, the amount due under s. 59.43 (2) to record the deed and any other document required to record the deed, and the transfer fee, if any, to the register of deeds of the county.

SB209-engrossed,112m Section 112m. 846.17 of the statutes is amended to read:

SB209-engrossed,41,16 846.17 Deed, execution and effect of. Upon any such sale being made the sheriff or referee making the same, on compliance with its terms, shall make and execute to the purchaser, the purchaser's assigns or personal representatives, a deed of the premises sold, setting forth each parcel of land sold to the purchaser and the sum paid therefor, which deed, upon confirmation of such sale, shall vest in the purchaser, the purchaser's assigns or personal representatives, all the right, title and interest of the mortgagor, the mortgagor's heirs, personal representatives and assigns in and to the premises sold and shall be a bar to all claim, right of equity of redemption therein, of and against the parties to such action, their heirs and personal representatives, and also against all persons claiming under them subsequent to the filing of the notice of the pendency of the action in which such judgment was rendered; and the purchaser, the purchaser's heirs or assigns shall be let into the possession of the premises so sold on production of such deed or a duly certified copy thereof, and the court may, if necessary, issue a writ of assistance to deliver such possession. Such deed or deeds so made and executed by the sheriff as above set forth shall be forthwith delivered by the sheriff to the clerk of the court to be held by the clerk until the confirmation of the sale, and upon the confirmation thereof the clerk of the court shall thereupon pay to the parties entitled thereto, or to their attorneys, the proceeds of the sale, and, except as provided in s. 846.167, shall deliver to the purchaser, the purchaser's assigns or personal representatives, at the sale such deed upon compliance by such purchaser with the terms of such sale, and the payment of any balance of the sale price to be paid. In the event of the failure of such purchaser to pay any part of the purchase price remaining to be paid within 10 days after the confirmation of such sale, the amount so deposited shall be forfeited and paid to the parties who would be entitled to the proceeds of such sale as ordered by the court, and a resale shall be had of said premises, and in such event such deed so executed to the defaulting purchaser shall be destroyed by said clerk, and shall be of no effect. In the event that such sale is not confirmed by the court, the clerk shall forthwith refund to the purchaser at such sale the amount so paid or deposited by the purchaser, and shall likewise destroy such sheriff's deed so executed, and the same shall be of no effect, and a resale of the premises shall be had upon due notice thereof.

SB209-engrossed,115 Section 115. Nonstatutory provisions.

SB209-engrossed,42,3 (1) Certain Milwaukee County property. As soon as practicable, Milwaukee County shall transfer, unencumbered, to a district created under subchapter II of chapter 229 of the statutes, the property known as 929 North Water Street, Milwaukee, Wisconsin, which is bounded by the Milwaukee River on the west; East State Street on the north; North Water Street on the east; and East Kilbourn Avenue on the south. The transfer shall take effect upon the adoption of a resolution requesting the transfer by the board of directors under section 229.41 (2) of the statutes and a written proclamation of the Milwaukee County executive supporting the transfer, notwithstanding any policies issued, ordinances enacted, or resolutions adopted by the Milwaukee County board to the contrary. The transfer may take place without the approval of the Milwaukee County board.

SB209-engrossed,42,6 (2m) Foreclosure process in populous counties. The treatment of sections 846.16 (1) and (3), 846.167, and 846.17 of the statutes first applies to a foreclosure action commenced on the effective date of this subsection.

SB209-engrossed,116 Section 116. Effective dates. This act takes effect on the day after publication, except as follows:

SB209-engrossed,42,11 (1) Payment to Bradley Center Sports and Entertainment Corporation. The repeal of sections 16.004 (22) and 20.855 (4) (cy) of the statutes takes effect on June 30, 2017.

SB209-engrossed,42,13 (2) County debt collections. The repeal and recreation of sections 20.835 (6) (g) and 71.93 (8) (c) of the statutes take effect on June 30, 2036.

SB209-engrossed,42,16 (2d) Shared revenue. The repeal and recreation of section 79.035 (5) of the statutes and the repeal of section 79.035 (6) of the statutes take effect on June 30, 2036.

SB209-engrossed,42,19 (2m) Foreclosure process in populous counties. The treatment of sections 846.16 (1) and (3), 846.167, and 846.17 of the statutes and Section 115 (2m) of this act take effect on the first day of the 5th month beginning after publication.

SB209-engrossed,42,21 (3) Payment to a local exposition district. The repeal of sections 16.004 (21) and 20.855 (4) (cr) and (dr) of the statutes takes effect on June 30, 2036.

SB209-engrossed,42,22 (End)