Real Estate
Deeds, Deeds, Deeds
Often when individuals purchase real estate, their understanding of the transaction is that the Seller will convey the real estate by executing and recording a deed. However, there are actually various types of deeds, each with their own set of warranties or...
What is a Real Estate 1031 Excange?
In the field of real estate, a commonly used term is a 1031 Exchange. But what exactly is that? A 1031 Exchange is aptly named after Section 1031 of the U.S. Internal Revenue Code, which permits the deferral of capital gains tax in certain real estate transactions....
Real Estate Interests
Legal interests in real estate seem simple upon first consideration – someone may own a home, and when they sell it, the buyer owns it. However, even such “simple” purchase and sale arrangements are often layered with other forms of legal interests being retained or...
What is the Foreign Investment in Real Property Tax Act?
When you are buying real estate there are many different documents that need to be executed at closing. One of those documents is the FIRPTA Affidavit. Although this document is only executed by the Seller, it is still important that the Buyer understands the...
Joint Tenancy vs. Tenants in Common, What is the Difference?
When buying real estate in Wisconsin, one of the items you will need to consider is how you would like to take title of the property. If you are buying the property as an individual, then this is usually not an issue; however, this item will play an important role if...
Wisconsin’s Home Improvement Code Protects Homeowners When Remodeling
There has been a significant increase in home remodeling projects since the pandemic began over a year ago, and many people choose to hire a contractor to assist them. Not all contractors provide written contracts with the details of the project, such as total costs,...
What is a Title Commitment?
In almost every real estate transaction title work will be ordered and a title commitment will be provided to the parties to review prior to closing. A title commitment is a document that provides information pertaining to the property that is subject to the...
Defective Home Construction? Know Your Rights and Responsibilities
Are you thinking it is time to build your new dream home or do some remodeling to your existing home? Are you a busy homebuilder just trying to keep up? In either case, you should be aware of a Wisconsin statute that sets out procedures for addressing defects that...
Contractors Beware – the Theft by Contractor Statute Imposes Stiff Penalties
Wisconsin has codified a “Theft by Contractor” statute under Wis. Stat. § 779.02(5) which imposes stiff penalties if violated. There are several potential penalties for violating this statute. If such a claim is proven, a contractor could be subject to criminal...