Bill > SB193

This bill makes several technical changes to Wisconsin statutes related to property transfers, real estate transactions, and legal documentation. Specifically, the bill clarifies the process for revoking a Transfer on Death (TOD) beneficiary designation for real property, which now requires that any revocation document must be acknowledged by the property owner after the original designation and must be recorded before the owner's death. For properties owned by multiple people, the bill specifies that revocation requires consent from all living joint tenants or spouses. The bill also provides guidance for disbursing deposits in real property wholesaler contracts by allowing deposit holders to release funds to sellers or assignees who exercise their right to rescind a contract without facing liability. Additionally, the bill updates procedures for filing satisfactions of judgment, allowing multiple types of documentation (such as certified copies or signed acknowledgments) to be used when recording the satisfaction of a legal judgment across different county courts. The bill also modifies requirements for property tax bill documentation in decedent property transfer processes, allowing the use of either the previous year's tax bill or the most recent tax bill.

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https://docs.legis.wisconsin.gov/2025/proposals/reg/sen/bill/sb193