reglab/statecodes huggingface dataset:
2023 Wisconsin Statutes & Annotations › Chapter 700 - Interests in property. › 700.01 - Definitions.

700.01
Definitions.
In this chapter, unless the context indicates otherwise:
(1)
“Bill of sale" means an instrument evidencing a sale of tangible personal property which names the seller and buyer and describes the property sold.
(2)
“Document of title" means a document which is evidence of ownership of certain kinds of personal property, tangible or intangible, the ownership of which may be transferred by transfer of the document; it includes but is not limited to an investment security, a negotiable instrument and a certificate of title to tangible personal property; it does not include items excepted in s. 700.22.
(3)
“Instrument of transfer" means an instrument which is effective to transfer an interest in property; it includes but is not limited to a will, a deed, a contract to transfer, a real estate mortgage and an instrument creating a security interest in personal property under ch. 409.
(4)
“Interest" means an interest in property.
(5)
“Property" means real or personal property.
(6)
“Successors in interest" means persons who obtain a reversionary interest by transfer or operation of law.
(7)
“Transfer" means a transfer effective during the lifetime of the transferor or by reason of the transferor's death.
History:  1983 a. 189; 1991 a. 316.
Cross-reference:  See ss. 990.01 (27) and (35) which define real and personal property.
2023 Wisconsin Statutes & Annotations › Chapter 700 - Interests in property. › 700.02 - Classification of interests in property as to duration.

700.02
Classification of interests in property as to duration.
Interests in property are classified as to duration as:
(1)
A fee simple absolute;
(2)
A defeasible fee simple which may be a fee simple determinable automatically expiring upon the occurrence of a stated event, a fee simple subject to a condition subsequent with a power in the transferor or the transferor's successors in interest to reacquire the fee by reason of a breach of the condition, or a fee simple with a remainder over to a person other than the transferor or the transferor's successors in interest to take effect upon the occurrence of a stated event; for purposes of this subsection, a stated event can be either the happening, or the nonhappening, of a specified occurrence, and can be either certain or not certain to happen;
(3)
An interest for life, which may be created for the duration of a life or lives of one or more human beings;
(4)
An interest for years, which is any interest the duration of which is described in units of a year or multiples or divisions thereof;
(5)
A periodic interest, which will continue for successive periods of a year, or successive periods of a fraction of a year, unless terminated;
(6)
An interest at will, which is terminable at the will of either the transferor or the transferee and has no designated period of duration.
History:  1991 a. 316.
2023 Wisconsin Statutes & Annotations › Chapter 700 - Interests in property. › 700.03 - Classification of present and future interests.

700.03
Classification of present and future interests.
Interests in property are classified as to time of enjoyment as:
(1)
A present interest, which entitles the owner to the present possession or enjoyment of the benefits of property; or
(2)
A future interest, which does not entitle the owner to possession or enjoyment of the benefits of property until a future time.
2023 Wisconsin Statutes & Annotations › Chapter 700 - Interests in property. › 700.04 - Classification of future interests.

700.04
Classification of future interests.
Future interests are classified as:
(1)
A reversionary interest left in the transferor or the transferor's successors in interest, either as a reversion, a possibility of reverter upon the simultaneous creation of a fee simple determinable, or a power of reacquisition; or
(2)
An interest created in a person other than the transferor or the transferor's successors in interest, called a remainder, to take effect at the termination of a preceding interest created at the same time or without the intervention of such a preceding interest.
History:  1991 a. 316.
When a conditional testamentary disposition failed, the court found a gift by implication rather than a reversionary interest that would have contravened the testator's intent. In re Trust of Pauly, 71 Wis. 2d 306, 237 N.W.2d 719 (1976).
2023 Wisconsin Statutes & Annotations › Chapter 700 - Interests in property. › 700.05 - Classification of remainders.

700.05
Classification of remainders.
Remainders are classified as:
(1)
Indefeasibly vested, if the interest is created in favor of one or more ascertained persons in being and is certain to become a present interest at some time in the future;
(2)
Vested subject to open, if the interest is created in favor of a class of persons, one or more of whom are ascertained and in being, and if the interest is certain to become a present interest at some time in the future, but the share of the ascertained remaindermen is subject to diminution by reason of other persons becoming entitled to share as members of the class;
(3)
Vested subject to complete defeasance, if the interest is created in favor of one or more ascertained persons in being and would become a present interest on the expiration of the preceding interests but may end or may be completely defeated as provided by the transferor at, before or after the expiration of the preceding interests;
(4)
Subject to a condition precedent, if the interest is created in favor of one or more unborn or unascertained persons or in favor of one or more presently ascertainable persons upon the occurrence of an uncertain event.
History:  1971 c. 66.
2023 Wisconsin Statutes & Annotations › Chapter 700 - Interests in property. › 700.06 - Interest for life of another; succession.

700.06
Interest for life of another; succession.
An interest measured by the life of a person other than the owner of the interest passes on the death of the owner, if the owner's death is prior to the death of the person who is the measuring life, as an asset of the owner's estate and is realty or personalty according to the nature of the property subject to the interest.
History:  1999 a. 85.
2023 Wisconsin Statutes & Annotations › Chapter 700 - Interests in property. › 700.07 - Transferability of future interests.

700.07
Transferability of future interests.
A future interest is transferable during the lifetime of the owner and passes on the owner's death by will or under the law of intestate succession in the same manner as a present interest; but this section does not make an interest transferable if a valid condition or limitation restricts transfer, nor permit an interest to pass at death if the interest ends at death.
History:  1991 a. 316.
2023 Wisconsin Statutes & Annotations › Chapter 700 - Interests in property. › 700.08 - Estate tail becomes fee simple; effect of gift over after attempted estate tail.

700.08
Estate tail becomes fee simple; effect of gift over after attempted estate tail.
The use of language in an instrument appropriate to create a present or future interest in fee tail, such as to a named person “and the heirs of his body" or “and the heirs of her body" or “and his issue" or “and her issue", creates a present or future interest in fee simple. If the same instrument attempts to create a future interest after the interest that is made a fee simple by reason of this section, the future interest is valid.
History:  1993 a. 486; 1999 a. 85.
2023 Wisconsin Statutes & Annotations › Chapter 700 - Interests in property. › 700.09 - Interest contingent on death without issue.

700.09
Interest contingent on death without issue.
If an instrument transfers an interest expressly contingent upon the death of a person without “heirs of the body", “descendants", “issue", “children" or relatives described by other terms, the interest takes effect only if that person dies not having such a relative living at the time of death, or conceived then and born alive thereafter.
History:  1991 a. 316.
2023 Wisconsin Statutes & Annotations › Chapter 700 - Interests in property. › 700.10 - Remainder to heirs of owner of life interest; abolition of rule in Shelley's case.

700.10
Remainder to heirs of owner of life interest; abolition of rule in Shelley's case.
If an instrument purports to transfer an interest for life to one person and a remainder to that person's heirs or the heirs of that person's body, a remainder is created in that person's heirs or heirs of that person's body.
History:  1991 a. 316.
2023 Wisconsin Statutes & Annotations › Chapter 700 - Interests in property. › 700.11 - Interests in “heirs" and the like.

700.11
Interests in “heirs" and the like.
(1)
If a statute, inter vivos governing instrument, as defined in s. 700.27 (1) (c), or governing instrument, as defined in s. 854.01 (2), specifies that property is to be distributed to, or a future interest is to be created in, a designated individual's “heirs," “heirs at law," “next of kin," “relatives," “family," or a term that has a similar meaning, or if a class gift in favor of “descendants," “issue," or “heirs of the body" does not specify the manner in which the property is to be distributed among the class members, the property is distributed according to s. 854.22.
(2)
The common law doctrine of worthier title is abolished under s. 854.22 (3). Situations in which the doctrine may have applied are governed by s. 854.22 (1).
History:  1991 a. 316; 1997 a. 188; 2005 a. 216.
2023 Wisconsin Statutes & Annotations › Chapter 700 - Interests in property. › 700.12 - After-born persons included in class gift.

700.12
After-born persons included in class gift.
With respect to membership in a class under a class gift, the status of a person who was born after the membership in the class was determined is governed by s. 854.21 (5).
History:  1991 a. 316; 1997 a. 188.
2023 Wisconsin Statutes & Annotations › Chapter 700 - Interests in property. › 700.13 - Remainders presumed not to shorten prior interest; acceleration of remainders.

700.13
Remainders presumed not to shorten prior interest; acceleration of remainders.
(1)
If an instrument transfers an interest for life or years and a future interest to take effect on a stated contingency not defeating or avoiding the prior interest transferred, and the stated contingency occurs before the normal termination of the prior interest transferred, the future interest takes effect at the normal termination of the prior interest.
(2)
The effect of a renunciation or release of an interest for life or years is as provided in ss. 700.27 (8) and 854.13 (10).
History:  2005 a. 216.
2023 Wisconsin Statutes & Annotations › Chapter 700 - Interests in property. › 700.16 - Perpetuities and suspension of power of alienation.

700.16
Perpetuities and suspension of power of alienation.
(1)
(a)
A future interest or trust is void if it suspends the power of alienation for longer than the permissible period. The permissible period is a life or lives in being plus a period of 30 years.
(b)
If the settlor of a living trust has an unlimited power to revoke, the permissible period is computed from termination of such power.
(c)
If a future interest or trust is created by exercise of a power of appointment, the permissible period is computed from the time the power of appointment is exercised if the power of appointment is a general power of appointment as defined in s. 702.02 (5) even if the general power of appointment is exercisable only by will. In the case of other powers of appointment the permissible period is computed from the time the power of appointment is created but facts at the time the power of appointment is exercised are considered in determining whether the power of alienation is suspended beyond a life or lives in being at the time of creation of the power of appointment plus 30 years.
(2)
The power of alienation is suspended when there are no persons in being who, alone or in combination with others, can convey an absolute fee in possession of land, or full ownership of personalty.
(3)
There is no suspension of the power of alienation by a trust or by equitable interests under a trust if the trustee has power to sell, either expressed or implied, or if there is an unlimited power to terminate in one or more persons in being.
(4)
This section does not apply to limit any of the following:
(a)
Transfers, outright or in trust, for charitable purposes;
(b)
Transfers to literary or charitable corporations;
(bm)
Transfers to a veteran's memorial organization under s. 84.09 (5r);
(c)
Transfers to any cemetery corporation, society or association;
(d)
Transfers, outright or in trust, to the state society of physicians and surgeons incorporated under the law of this state, when the transfer is for the advancement of medical science;
(e)
Transfers to any person pursuant to ch. 703; or
(f)
Employees' trusts created as part of a plan or contract as described in s. 815.18 (3) (j).
(5)
The common-law rule against perpetuities is not in force in this state.
History:  Sup. Ct. Order, 67 Wis. 2d 585, 777 (1975); 1983 a. 189 s. 329 (26); 1989 a. 278; 1995 a. 406; 2013 a. 92.
2023 Wisconsin Statutes & Annotations › Chapter 700 - Interests in property. › 700.17 - Classification and characteristics of certain concurrent interests.

700.17
Classification and characteristics of certain concurrent interests.
(1)
Classification of concurrent interests. Interests in property may be owned concurrently by 2 or more persons as joint tenants or as tenants in common. A joint tenancy or tenancy in common established exclusively between spouses after the determination date is classified as provided under s. 766.60 (4) (b).
(2)
Characteristics of joint tenancy.
(a)
Each of 2 or more joint tenants has an equal interest in the whole property for the duration of the tenancy, irrespective of unequal contributions at its creation. On the death of one of 2 joint tenants, the survivor becomes the sole owner; on the death of one of 3 or more joint tenants, the survivors are joint tenants of the entire interest. If a survivor disclaims under s. 854.13 (2) (b), the joint tenancy is severed as of the date of death with respect to the disclaimed interest.
(am)
Survivorship under par. (a) is governed by s. 854.03 (2).
(b)
If a joint tenant unlawfully and intentionally kills another joint tenant of the same property, the disposition of the deceased joint tenant's interest in the joint tenancy is governed by s. 854.14.
(3)
Characteristics of tenancy in common. Each of 2 or more tenants in common has an undivided interest in the whole property for the duration of the tenancy. There is no right of survivorship incident to a tenancy in common, but a remainder may be created to vest ownership in the survivor of several persons who own as tenants in common other preceding interests, such as a life interest, in the same property.
History:  1971 c. 66; 1981 c. 228; 1985 a. 37; 1987 a. 222; 1995 a. 360; 1997 a. 188; 1999 a. 85.
NOTE:  As to sub. (1), see notes in 1985 Wis. Act 37, marital property trailer bill.
Rental income must be attributed to joint tenants in proportion to ownership. McManus v. Department of Revenue, 91 Wis. 2d 682, 283 N.W.2d 576 (1979).
Concurrent ownership; joint tenancy and tenancy in common. Talsky, 55 MLR 321.
2023 Wisconsin Statutes & Annotations › Chapter 700 - Interests in property. › 700.18 - Determination of cotenancy generally.

700.18
Determination of cotenancy generally.
Two or more persons named as owners in a document of title, transferees in an instrument of transfer or buyers in a bill of sale are tenants in common, except as otherwise provided in s. 700.19 or ch. 766.
History:  1991 a. 301.
A warranty deed to 2 grantees as “single persons" did not express an intent to classify the property as something other than survivorship marital property when the grantees subsequently married. The use of the phrase “single persons" simply described a fact: that at the time they purchased the vacant lot, the grantees were not married. “Single persons" does not represent a classification of property ownership of any kind, to wit, tenancy in common, joint tenancy, marital property, or any other recognized classification. Droukas v. Estate of Felhofer, 2014 WI App 6, 352 Wis. 2d 380, 843 N.W.2d 57, 13-0147.
Wisconsin's New Probate Code. Erlanger. Wis. Law. Oct. 1998.
2023 Wisconsin Statutes & Annotations › Chapter 700 - Interests in property. › 700.19 - Creation of joint tenancy.

700.19
Creation of joint tenancy.
(1)
Generally. The creation of a joint tenancy is determined by the intent expressed in the document of title, instrument of transfer or bill of sale. Any of the following constitute an expression of intent to create a joint tenancy: “as joint tenants", “as joint owners", “jointly", “ or the survivor", “with right of survivorship" or any similar phrase except a phrase similar to “survivorship marital property".
(2)
Husband and wife. If persons named as owners in a document of title, transferees in an instrument of transfer or buyers in a bill of sale are described in the document, instrument or bill of sale as husband and wife, or are in fact husband and wife, they are joint tenants, unless the intent to create a tenancy in common is expressed in the document, instrument or bill of sale. This subsection applies to property acquired before January 1, 1986, and, if ch. 766 does not apply when the property is acquired, to property acquired on or after January 1, 1986.
(2m)
Domestic partners. If persons named as owners in a document of title, transferees in an instrument of transfer, or buyers in a bill of sale are described in the document, instrument, or bill of sale as domestic partners under ch. 770, or are in fact domestic partners under ch. 770, they are joint tenants, unless the intent to create a tenancy in common is expressed in the document, instrument, or bill of sale.
(3)
Comortgagees. If covendors owned realty as joint tenants and a purchase money mortgage names the covendors as mortgagees, the mortgagees are joint tenants, unless the purchase money mortgage expresses an intent that the mortgagees are tenants in common.
(4)
Cofiduciaries. Notwithstanding s. 700.18 and subs. (1) to (3), co-personal representatives and cotrustees hold title to interests in property as joint tenants.
(5)
Change in common law requirements. The common law requirements of unity of title and time for creation of a joint tenancy are abolished.
History:  1971 c. 66; 1983 a. 186; 1991 a. 301; 2009 a. 28.
The common law requirement that a grantor cannot also be a grantee in a deed creating a joint tenancy is no longer the law in Wisconsin. Marchel v. Estate of Marchel, 2013 WI App 100, 349 Wis. 2d 707, 838 N.W.2d 97, 12-2131.
Nature of cotenancies and their taxation — death and gift. Sheedy, Sullivan, 56 MLR 3.
2023 Wisconsin Statutes & Annotations › Chapter 700 - Interests in property. › 700.20 - Extent of undivided interests in tenancy in common.

700.20
Extent of undivided interests in tenancy in common.
The extent of the undivided interests of tenants in common for the duration of the tenancy is determined by the intent expressed in the document of title, instrument of transfer or bill of sale; if no intent is expressed in the document, instrument or bill of sale, tenants in common are presumed to own equal undivided interests for the duration of the tenancy.
History:  1971 c. 66.
2023 Wisconsin Statutes & Annotations › Chapter 700 - Interests in property. › 700.21 - Covendors in contracts to transfer.

700.21
Covendors in contracts to transfer.
(1)
If 2 or more persons are named as covendors in a contract to transfer an interest in property which they own as joint tenants, the purchase price is payable to them as joint tenants, unless the contract expresses a contrary intent. If 2 or more persons are named as covendors in a contract to transfer an interest in property which they own as tenants in common, the purchase price is payable to them according to their interests, unless the contract expresses a contrary intent.
(2)
If 2 or more persons are named as covendors in a contract to transfer an interest in property which is owned by less than all of the covendors, the purchase price is payable to the owner or owners of the interest in property to which the contract relates, unless the contract expresses an intent that the purchase price is payable to the covendors as joint tenants or as tenants in common.
History:  1971 c. 66.
Under the plain language of the land contract in this case, the full contract price was payable to all co-vendors. By operation of sub. (1), the contract price is divided between the covendors according to their respective interests in the property, but the individual payments are not subdivided. Under sub. (1), each co-vendor had a property right to one-fourth of the full contract price and that is the amount that was garnishable by a co-vendor's creditor. What the co-vendors had done with the previous payments was irrelevant and had no impact on the rights of a creditor to garnish a co-vendor's interest in the amount due under the land contract. Prince Corporation v. Vandenberg, 2015 WI App 55, 364 Wis. 2d 457, 868 N.W.2d 599, 14-2097.
2023 Wisconsin Statutes & Annotations › Chapter 700 - Interests in property. › 700.215 - Exception for equitable rights of cotenants and 3rd persons.

700.215
Exception for equitable rights of cotenants and 3rd persons.
Nothing in ss. 700.17 to 700.21 prevents an equitable lien arising in favor of one cotenant against another tenant or tenants because of events occurring after the establishment of the cotenancy relationship nor prevents imposition of a constructive trust in favor of a 3rd person in an appropriate case.
History:  1971 c. 66; 2005 a. 253.
2023 Wisconsin Statutes & Annotations › Chapter 700 - Interests in property. › 700.22 - Exception for bank deposits, checks, government bonds and vehicles.

700.22
Exception for bank deposits, checks, government bonds and vehicles.
(1)
(a)
In this subsection, “deposits" include checking accounts or instruments deposited into or drawn on checking accounts, savings accounts, certificates of deposit, investment shares or any other form of deposit.
(b)
Nothing in ss. 700.17 to 700.21 governs the determination of rights to deposits in banks, building and loan associations, savings banks, savings and loan associations, credit unions or other financial institutions.
(2)
Nothing in ss. 700.17 to 700.21 applies to United States obligations to the extent they are governed by law of the United States.
(3)
Nothing in ss. 700.17 to 700.21 governs the transfer of interest in a vehicle for purposes of s. 342.15 (1) (d).
History:  1971 c. 66; 1991 a. 221; 1995 a. 421; 1999 a. 85.
Cross-reference:  See ch. 705 for provisions applicable to multiple party accounts.
There is no sound reason for ascribing to joint checking accounts the attributes of a common-law joint tenancy other than survivorship. No tracing of assets is permissible. Estates of Beisbier, 47 Wis. 2d 409, 177 N.W.2d 919 (1970).
2023 Wisconsin Statutes & Annotations › Chapter 700 - Interests in property. › 700.23 - Liability among cotenants for rents and profits.

700.23
Liability among cotenants for rents and profits.
(1)
The provisions of this section apply only in the absence of a valid agreement to the contrary between the cotenants. As used in this section, “proportionate share" means a share determined by the number of joint tenants, in the case of a joint tenancy, and the extent of a tenant in common's undivided interest, in the case of a tenancy in common.
(2)
If land belonging to 2 or more cotenants is rented to a 3rd person, any cotenant may recover that cotenant's proportionate share of the net rents collected by another cotenant after deduction of property taxes, maintenance costs and any other proper charges relating to the property.
(3)
If land belonging to such cotenants is occupied by one cotenant and not by another, any cotenant not occupying the premises may recover from the occupying cotenant:
(a)
A proportionate share of the reasonable rental value of the land accruing after written demand for rent if the occupying tenant manifests an intent to occupy the premises to the exclusion of the other cotenant or cotenants;
(b)
A proportionate share of the net profits if the occupying cotenant engages in mining, cutting of timber, removal of sand or gravel, or any similar operation resulting in diminution of the value of the premises. In such a case, the occupying cotenant must render an accounting to the other cotenant, showing all receipts and expenditures, and is entitled to deduct a reasonable amount for the value of services provided by the occupying cotenant; but any other cotenant may in the alternative elect to recover that cotenant's proportionate share of the amount which that cotenant can prove would have been received by licensing a 3rd party to carry on the same operation.
(4)
If one cotenant has leased the premises from another cotenant, upon expiration of the lease it is presumed that the cotenant who has leased the premises from the other cotenant continues to hold over as provided in s. 704.25, unless that cotenant gives to the other cotenant prior to the expiration of the lease a written notice to the contrary, by one of the methods under s. 704.21.
History:  1971 c. 66; 1991 a. 316.
Sub. (3) does not control all cases in which a nonoccupying cotenant asserts a claim against a cotenant in possession, and does not apply when a tenant has not been ousted from the property. Klawitter v. Klawitter, 2001 WI App 16, 240 Wis. 2d 685, 623 N.W.2d 169, 00-1464.
2023 Wisconsin Statutes & Annotations › Chapter 700 - Interests in property. › 700.24 - Death of a joint tenant; effect of liens.

700.24
Death of a joint tenant; effect of liens.
A real estate mortgage, a security interest under ch. 409, or a lien under s. 72.86 (2), 1985 stats., or s. 71.91 (5) (b), or ch. 49 or 779 on or against the interest of a joint tenant does not defeat the right of survivorship in the event of the death of such joint tenant, but the surviving joint tenant or tenants take the interest such deceased joint tenant could have transferred prior to death subject to such mortgage, security interest, or statutory lien.
History:  1971 c. 307 s. 118; 1975 c. 39; 1979 c. 32 s. 92 (9); 1987 a. 27 s. 3202 (47) (a); 1987 a. 312 s. 17; 1999 a. 9; 2013 a. 20.
The docketing of a judgment creates a lien upon the debtor's interest in joint tenancy property, but it does not, without levy and execution, sever the joint tenancy. If the debtor dies following docketing of the judgment, but prior to execution, the surviving joint tenant takes the entire interest in the property free of the judgment lien, as the debtor's interest in the property that was subject to the lien has been extinguished. Northern State Bank v. Toal, 69 Wis. 2d 50, 230 N.W.2d 153 (1975).
A decedent's one-half interest in joint property that was subject to a federal tax lien against the decedent becomes encumbered with the tax lien when it passes to the survivor. U.S. v. Librizzi, 108 F.3d 136 (1997).
2023 Wisconsin Statutes & Annotations › Chapter 700 - Interests in property. › 700.25 - Applicability of chapter.

700.25
Applicability of chapter.
This chapter applies to interests in property in existence on July 1, 1971, and to interests in property created after such date. If application of any provision of this chapter to an interest in property in existence on July 1, 1971, is unconstitutional, it shall not affect application of the provision to an interest in property created after July 1, 1971.
2023 Wisconsin Statutes & Annotations › Chapter 700 - Interests in property. › 700.28 - Prohibiting unreasonable restrictions on alienation of property.

700.28
Prohibiting unreasonable restrictions on alienation of property.
(1)
In this section, “political subdivision" means a city, village, town, or county.
(2)
A political subdivision may not prohibit or unreasonably restrict a real property owner from alienating any interest in the real property.
History:  2015 a. 391.
2023 Wisconsin Statutes & Annotations › Chapter 700 - Interests in property. › 700.35 - Renewable energy resource easements.

700.35
Renewable energy resource easements.
In this section, “renewable energy resource easement" means an easement which limits the height or location, or both, of permissible development on the burdened land in terms of a structure or vegetation, or both, for the purpose of providing access for the benefited land to wind or sunlight passing over the burdened land. Every renewable energy resource easement shall be in writing and shall be subject to the same conveyancing and instrument recording requirements as other easements. Renewable energy resource easements shall run with the land benefited and burdened unless otherwise expressly stated therein.
History:  1981 c. 354.
2023 Wisconsin Statutes & Annotations › Chapter 701 - Trusts. › 701.0102 - Scope.

701.0102
Scope.
This chapter applies to express, charitable or noncharitable, and testamentary or living trusts, and any trust created pursuant to a statute, judgment, or decree that requires the trust to be administered in the manner of an express trust. This chapter does not apply to any of the following:
(1)
A constructive or resulting trust.
(2)
A guardianship.
(3)
A conservatorship.
(4)
A custodial arrangement made pursuant to the Uniform Transfers to Minors Act under ss. 54.854 to 54.898 or the Uniform Custodial Trust Act under ss. 54.950 to 54.988.
(5)
A common trust or a collective investment fund.
(6)
A trust created by a depository agreement with a financial institution.
(7)
A trust made in connection with a business transaction, including a trust created under a bond indenture or collateral trust agreement or in connection with a structured finance transaction, a common law trust under s. 226.14, or a business trust.
(8)
A voting trust.
(9)
A fund maintained pursuant to court order in conjunction with a bankruptcy proceeding, business liquidation, or class action lawsuit.
(10)
A trust that is part of an employee benefit arrangement or an individual retirement account.
(11)
A trust established under a qualified tuition savings program or education savings account.
(12)
A trust account maintained on behalf of a client or customer by a licensed service professional, including a trust account maintained by an attorney or by a real estate broker.
(13)
Any other arrangement under which a person is a nominee or escrowee for another.
History:  2013 a. 92.
2023 Wisconsin Statutes & Annotations › Chapter 701 - Trusts. › 701.0104 - Knowledge.

701.0104
Knowledge.
(1)
Subject to sub. (2), a person has knowledge of a fact if any of the following applies:
(a)
The person has actual knowledge of the fact.
(b)
The person has received a notice or notification of the fact.
(c)
The person has reason to know the fact from all the facts and circumstances known to the person at the time in question.
(2)
An organization that conducts activities through employees has notice or knowledge of a fact involving a trust only from the time the information was received by an employee having responsibility to act for the trust, or would have been received by the employee if the organization had exercised reasonable diligence. An organization exercises reasonable diligence if it maintains reasonable routines for communicating significant information to the employee having responsibility to act for the trust and there is reasonable compliance with the routines. Reasonable diligence does not require an employee of the organization to communicate information unless the communication is part of the individual's regular duties or the individual knows a matter involving the trust would be materially affected by the information.
History:  2013 a. 92.
2023 Wisconsin Statutes & Annotations › Chapter 701 - Trusts. › 701.0105 - Default and mandatory rules.

701.0105
Default and mandatory rules.
(1)
Except as otherwise provided in the terms of the trust, this chapter governs the duties and powers of trustees, directing parties, and trust protectors; relations among trustees, directing parties, and trust protectors; and the rights and interests of beneficiaries.
(2)
The terms of a trust prevail over any provision of this chapter except for the following:
(a)
The requirements for creating a trust.
(b)
The duty of a trustee or a directing party to act in good faith and in accordance with the terms and purposes of a trust instrument and the interests of the beneficiaries.
(c)
The requirement that a trust and its terms be for the benefit of its beneficiaries, and that the trust have a purpose that is lawful.
(d)
The power of a court to modify or terminate a trust under ss. 701.0410 to 701.0416.
(e)
The effect of a spendthrift provision and the rights of certain creditors and assignees to reach a trust as provided in ss. 701.0501 to 701.0508.
(f)
The power of the court under s. 701.0702.
(g)
The power of the court under s. 701.0708 (2) to adjust a trustee's, directing party's, or trust protector's compensation specified in the terms of the trust.
(h)
The effect of an exculpatory term under s. 701.1008.
(i)
The rights under ss. 701.1010 to 701.1013 of a person other than a trustee or beneficiary.
(j)
Periods of limitation for commencing a judicial proceeding.
(k)
The power of the court to take such action and exercise such jurisdiction as may be necessary in the interests of justice.
(L)
The jurisdiction of the court and venue for commencing a proceeding as provided in ss. 701.0202, 701.0203, and 701.0204.
(m)
The jurisdiction of the court under ss. 701.0807 (4), 701.0808 (9), and 701.0818 (12).
(n)
The legal capacity under s. 701.0818 (2) (c) in which a trust protector who is also serving as a trustee or a directing party must exercise any power granted to the trust protector.
History:  2013 a. 92; 2013 a. 151 s. 28.
2023 Wisconsin Statutes & Annotations › Chapter 701 - Trusts. › 701.0107 - Governing law.

701.0107
Governing law.
The meaning and effect of the terms of a trust are determined by one of the following:
(1)
The law of the jurisdiction designated in the trust instrument.
(2)
In the absence of a controlling designation in the terms of a trust, the law of the jurisdiction having the most significant relationship to the matter at issue.
History:  2013 a. 92.
2023 Wisconsin Statutes & Annotations › Chapter 701 - Trusts. › 701.0109 - Methods and waiver of notice.

701.0109
Methods and waiver of notice.
(1)
Notice to a person under this chapter or the sending of a document to a person under this chapter shall be accomplished in a manner reasonably suitable under the circumstances and likely to result in receipt of the notice or document. Permissible methods of notice or for sending a document include 1st class mail, personal delivery, delivery to the person's last known place of residence or place of business, or a properly directed electronic message.
(2)
Notice otherwise required under this chapter or a document otherwise required to be sent under this chapter does not need to be provided to a person whose identity or location is unknown to and not reasonably ascertainable by a trustee.
(3)
Notice under this chapter or the sending of a document under this chapter may be waived by the person to be notified or sent the document.
(4)
Notice of a judicial proceeding shall be given as provided in s. 701.0205.
History:  2013 a. 92.
2023 Wisconsin Statutes & Annotations › Chapter 701 - Trusts. › 701.0110 - Others treated as qualified beneficiaries.

701.0110
Others treated as qualified beneficiaries.
(1)
A charitable organization that is expressly designated to receive distributions under the terms of a charitable trust and that is not subject to a right of substitution by the settlor or by any other party prior to the charitable organization becoming a distributee or permissible distributee of trust income or principal has the rights of a qualified beneficiary under this chapter if the charitable organization, on the date on which the charitable organization's qualification is being determined, satisfies one of the following:
(a)
The charitable organization is a distributee or permissible distributee of trust income or principal.
(b)
The charitable organization would be a distributee or permissible distributee of trust income or principal upon the termination of the interests of other distributees or permissible distributees then receiving or eligible to receive distributions.
(c)
The charitable organization would be a distributee or permissible distributee of trust income or principal if the trust terminated on that date.
(2)
A person appointed to enforce a trust created for the care of an animal or another noncharitable purpose as provided in s. 701.0408 or 701.0409 has the rights of a qualified beneficiary under this chapter.
(3)
The attorney general of this state has the rights of a qualified beneficiary with respect to a charitable trust having its principal place of administration in this state only when the charitable interest to be represented would qualify under sub. (1) but no charitable organization has been expressly designated to receive distribution under the terms of a charitable trust.
History:  2013 a. 92.
2023 Wisconsin Statutes & Annotations › Chapter 701 - Trusts. › 701.0111 - Nonjudicial settlement agreements.

701.0111
Nonjudicial settlement agreements.
(1)
In this section, “interested person" means a person whose consent would be required in order to achieve a binding settlement were the settlement to be approved by the court.
(2)
An interested person may be represented under this section as provided in subch. III.
(3)
Except as provided in sub. (4), an interested person may enter into a binding nonjudicial settlement agreement with respect to any matter involving a trust. A binding nonjudicial settlement agreement is considered part of the trust instrument.
(4)
A nonjudicial settlement agreement is valid only to the extent it includes terms and conditions that could be properly approved by a court under this chapter or other applicable law.
(5)
Except as provided in sub. (4), matters that may be addressed by a nonjudicial settlement agreement include any of the following:
(a)
The interpretation or construction of the terms of the trust.
(b)
The approval of a trustee's report or accounting or waiver of the preparation of a trustee's report or accounting.
(c)
Direction to a trustee to perform or refrain from performing a particular act or the grant to a trustee of any necessary power.
(d)
The resignation or appointment of a trustee.
(e)
The determination of a trustee's compensation.
(f)
The transfer of a trust's principal place of administration.
(g)
The liability or release from liability of a trustee for an action relating to the trust.
(h)
The criteria for distribution to a beneficiary where the trustee is given discretion.
(i)
The resolution of disputes arising out of the administration or distribution of the trust.
(j)
An investment action.
(k)
The appointment of and powers granted to a directing party or a trust protector.
(L)
Direction to a directing party or to a trust protector to perform or refrain from performing a particular act or the grant of a power to a directing party or trust protector.
(6)
Any interested person may request a court to approve a nonjudicial settlement agreement, to determine whether the representation as provided in subch. III was adequate, or to determine whether the agreement contains terms and conditions the court could have properly approved.
History:  2013 a. 92.
2023 Wisconsin Statutes & Annotations › Chapter 701 - Trusts. › 701.0201 - Role of court in administration of trust.

701.0201
Role of court in administration of trust.
(1)
The court may intervene in the administration of a trust to the extent its jurisdiction is invoked by an interested person or as provided by law.
(2)
Unless ordered by the court upon a petition of a settlor, trustee, or qualified beneficiary requesting continuing judicial supervision, a trust is not subject to continuing judicial supervision.
(3)
A judicial proceeding involving a trust or the trust's administration may involve any of the following:
(a)
Determining the validity of all or any part of a trust.
(b)
Appointing or removing a trustee, directing party, or trust protector.
(c)
Appointing a representative or guardian ad litem, as provided in s. 701.0305, whether or not any other judicial proceeding concerning the trust is pending.
(d)
Reviewing and approving a fee of a trustee, directing party, or trust protector.
(e)
Approving interim or final accounts.
(f)
Ascertaining trust beneficiaries.
(g)
Determining the existence or nonexistence of any immunity, power, privilege, duty, or right.
(h)
Requesting trustee instructions.
(i)
Obtaining a declaratory judgment.
(j)
Seeking reformation or other equitable relief with respect to a trust.
(k)
Resolving a question arising in the administration of a trust, including a question of construction of a trust instrument.
(L)
Determining any other matter involving a trustee, directing party, trust protector, or beneficiary.
History:  2013 a. 92.
2023 Wisconsin Statutes & Annotations › Chapter 701 - Trusts. › 701.0202 - Personal jurisdiction.

701.0202
Personal jurisdiction.
(1)
A trustee, trust protector, or directing party submits personally to the jurisdiction of the courts of this state regarding any matter involving the trust by accepting an appointment as a trustee, trust protector, or directing party of a trust having its principal place of administration in this state or by continuing to serve as the trustee, trust protector, or directing party of a trust after the principal place of administration of the trust is moved to this state.
(2)
With respect to a beneficiary's interest in a trust, the beneficiary of a trust having its principal place of administration in this state is subject to the jurisdiction of the courts of this state regarding any matter involving the trust. By accepting a distribution from a trust having its principal place of administration in this state, a recipient submits personally to the jurisdiction of the courts of this state regarding any matter involving the trust.
(3)
Notwithstanding any contractual provision or other agreement between the trustee and the agent to the contrary, by accepting the delegation of a trust function pursuant to s. 701.0807 or 881.01 (10), or otherwise, from the trustee of a trust having a principal place of administration in this state, the agent submits personally to the jurisdiction of the courts of this state regarding any matter involving the trust.
(4)
This section does not preclude other methods of obtaining jurisdiction over a trustee, directing party, trust protector, beneficiary, or other person receiving property from the trust.
History:  2013 a. 92.
2023 Wisconsin Statutes & Annotations › Chapter 701 - Trusts. › 701.0203 - Subject matter jurisdiction.

701.0203
Subject matter jurisdiction.
(1)
The circuit court assigned to exercise probate jurisdiction has exclusive jurisdiction of proceedings in this state brought by a trustee, trust protector, directing party, or beneficiary concerning the administration of a trust. Except as otherwise provided in this chapter, and as applicable, the probate procedure described in ch. 879 applies to a proceeding brought by a trustee, trust protector, directing party, or beneficiary concerning the administration of a trust.
(2)
This section does not preclude judicial or nonjudicial alternative dispute resolution, including nonjudicial settlement agreements described in s. 701.0111.
History:  2013 a. 92.
2023 Wisconsin Statutes & Annotations › Chapter 701 - Trusts. › 701.0204 - Venue.

701.0204
Venue.
(1)
Except as provided in sub. (2), venue for a judicial proceeding involving a trust may be in the county of this state in which the trust's principal place of administration is or will be located or, if the trust is a testamentary trust and the decedent's estate is not yet closed, in the county of this state in which the decedent's estate is being administered.
(2)
If a trust has no trustee, venue for a judicial proceeding for the appointment of a trustee is in any of the following:
(a)
A county of this state in which a beneficiary resides.
(b)
A county of this state in which any trust property is located.
(c)
A county of this state in which the holder of trust property maintains an office.
(d)
If the trust is a testamentary trust and the decedent's estate is not yet closed, in the county of this state in which the decedent's estate is being administered.
(3)
Venue for a judicial proceeding involving a trust is also governed by ss. 801.50 to 801.62, as applicable, and the proceeding is regarded as a civil action for that purpose.
History:  2013 a. 92.
2023 Wisconsin Statutes & Annotations › Chapter 701 - Trusts. › 701.0205 - Notice.

701.0205
Notice.
If notice of a judicial proceeding involving a trust to an interested person, to the person's representative or guardian ad litem, or to other persons, is required by law or deemed necessary by the court, the court shall order such notice to be given as prescribed in s. 879.05 except that service by publication may not be required unless ordered by the court. The court may order both personal service and service by publication on designated persons. Proof of service shall be made as provided in s. 879.07. Interested persons, on behalf of themselves, or their representatives or guardians ad litem, on behalf of the representative or guardian ad litem and the interested person the representative or guardian ad litem represents, may in writing waive service of notice and consent to the hearing of any matter without notice. Waiver of notice or an appearance by any interested person or the interested person's representative or guardian ad litem is equivalent to timely service of notice.
History:  2013 a. 92 s. 194.
2023 Wisconsin Statutes & Annotations › Chapter 701 - Trusts. › 701.0206 - Attorney for person in military service.

701.0206
Attorney for person in military service.
At the time of filing a petition for a judicial proceeding involving a trust, the petitioner shall file an affidavit setting forth the name of any interested person who is actively engaged in the military service of the United States. Whenever it appears by the affidavit or otherwise that any person in the active military service of the United States is an interested person and is not represented by an attorney, or by an attorney-in-fact who is duly authorized to act on the interested person's behalf in the matter, the court shall appoint an attorney to represent the interested person and protect the person's interest.
History:  2013 a. 92 s. 195.
2023 Wisconsin Statutes & Annotations › Chapter 701 - Trusts. › 701.0301 - Representation: basic effect.

701.0301
Representation: basic effect.
(1)
Notice, information, an accounting, or a report given to a person who may represent and bind another person under this subchapter is a substitute for and has the same effect as notice, information, an accounting, or a report given directly to the other person.
(2)
The consent of a person who may represent and bind another person under this subchapter is binding on the person represented unless the person represented objects to the representation by notifying the trustee or the representative in writing before the consent would otherwise have become effective.
(3)
Except as provided in ss. 701.0411 and 701.0602, a person who under this subchapter may represent a settlor who lacks capacity may receive notice and may give a binding consent on the settlor's behalf.
(4)
A settlor may not represent and bind a beneficiary under this subchapter with respect to the termination or modification of a trust under s. 701.0411 (1).
(5)
A trustee is not liable for giving notice, information, an accounting, or a report to a beneficiary who is represented by another person under this subchapter and nothing in this subchapter prohibits the trustee from giving notice, information, an accounting, or a report to the person represented.
History:  2013 a. 92.