2017 Wisconsin Statutes & Annotations
Chapter 846. Real estate foreclosure.
846.16 Notice of sale; confirmation; transfer.
846.16 Notice of sale; confirmation; transfer.
(1) Notice of sale and sale.
(a) 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. The sheriff or referee shall include in the notice of sale the street address, if any, of the real estate to be sold and the sum of the judgment. If 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. Upon the sale of the mortgaged premises and upon compliance with its terms, the sheriff or referee shall make and execute to the purchaser, the purchaser's assigns, or personal representatives a deed of the premises sold that includes each parcel of land sold to the purchaser and the purchase price.
(b) No later than 10 days after the sale of the mortgaged premises, the sheriff or referee shall do all of the following:
1. File a report of the sale with the clerk of court.
2. Deliver to the clerk of court all of the following:
a. The deed to the mortgaged premises.
b. After deducting the costs and expenses of the sale, unless the court orders otherwise, the proceeds of the sale ordered by the court.
(c)
1. Except as provided under subd. 2., the sheriff or referee may not accept less than $100 as a deposit or down payment from the purchaser at a sale of mortgaged premises. The sheriff or referee shall deliver the amount of the deposit or down payment to the clerk of court as provided in par. (b), and the purchaser shall pay the balance of the sale price to the clerk of court upon the confirmation of the sale. If the highest bid is less than $100, the sheriff or referee shall deliver the entire amount.
2. If the judgment creditor is the purchaser at the sale of the mortgaged premises, the judgment creditor may give the judgment creditor's receipt to the sheriff or referee for any sum not exceeding the judgment creditor's judgment. The judgment creditor's receipt is considered a down payment. If the judgment creditor is the purchaser and the sum due to the creditor is less than the purchase price, the judgment creditor shall pay the difference to the sheriff or referee at the time of sale.
3. In all cases, the purchaser at the sale of the mortgaged premises shall pay the cost of sale.
(2m) Confirmation. If a sheriff or referee makes a sale of mortgaged premises under a judgment of foreclosure and sale, all of the following apply:
(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.
NOTE: Par. (a) is shown as amended eff. 1-1-18 by 2017 Wis. Act 59, s. 2235. Prior to 1-1-18 it reads:
(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.
(b) No later than 10 days after the court confirms the sale, the purchaser shall pay to the court all of the following:
1. The amount of the transfer fee under s. 77.22, if any.
2. The amount of the fee under s. 59.43 (2) to record all of the following:
a. The deed to the mortgaged premises delivered under sub. (1) (b).
b. Any other document required for the register of deeds to record the deed.
NOTE: Subd. 2. b. is shown as amended eff. 1-1-18 by 2017 Wis. Act 59, s. 2236. Prior to 1-1-18 it reads:
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.
(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.
NOTE: Par. (c) is shown as amended eff. 1-1-18 by 2017 Wis. Act 59, s. 2237. Prior to 1-1-18 it reads:
(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.
(3m) Transmittal to register of deeds.
(a) Upon the court confirming the sale of mortgaged premises 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 court shall do one of the following to transmit the deed to the mortgaged premises received under sub. (1) (b) to the register of deeds for recording:
1. Deliver the deed to the mortgaged premises received under sub. (1) (b), the receipt for submitting a transfer return under s. 77.22, 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.
2. Notify the register of deeds that the deed to the mortgaged premises received under sub. (1) (b), the receipt for submitting a transfer return under s. 77.22, 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, are available in the clerk's office. If a register of deeds is notified under this subdivision, the register of deeds shall retrieve the documents and fees from the clerk of courts within a reasonable period of time.
(b) Upon confirmation of the sale, the deed executed under sub. (1) (a) 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 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.
(4) No confirmation of sale; resale.
(a) If any of the requirements under sub. (2m) are not satisfied and the purchaser is not the judgment creditor, the court shall order the purchaser to forfeit the amount of the purchaser's deposit or down payment and that amount shall be paid to the parties who would be entitled to the proceeds of the sale as ordered by the court. The court shall also order that the mortgaged premises be resold. The clerk of court shall destroy the deed executed to the defaulting purchaser and it shall be of no effect.
(b) If any of the requirements under sub. (2m) are not satisfied and the purchaser is the judgment creditor, the court may order the purchaser to forfeit the greater of the purchaser's deposit or $500, and order the purchaser to comply with sub. (2m) so that the mortgaged property may be sold to the purchaser.
(c) If the court does not confirm the sale of the mortgaged premises for a reason other than a failure to satisfy a requirement under sub. (2m), the clerk of court shall return the deposit or down payment to the purchaser and order the mortgaged premises to be resold. The clerk of court shall destroy the deed received under sub. (1) (b) and it shall be of no effect.
