Header graphic for print
Wisconsin Business Law Blog Providing in-depth discussions, thought, creative, and innovative insights on Business Law innovative insights

Category Archives: Real Estate

Subscribe to Real Estate RSS Feed

Wisconsin Residential Weatherization Program Eliminated

Posted in Real Estate, Uncategorized

A recent Wisconsin law change in Wisconsin has a big impact for those interested in investment property in Wisconsin. As part of the Wisconsin biannual budget signed into law in September 2017, the State of Wisconsin has discontinued its “rental weatherization” program. This program required either a Seller or Buyer of residential real estate to… Continue Reading

Wisconsin Foreclosure Law Aimed to Prevent the Zombie Property Apocalypse

Posted in News and Recent Decisions, Other Legal Issues, Real Estate

I’ve never really gotten on the Zombie movie and TV show bandwagon. I think it’s because they’re just so far-fetched, that it’s difficult for me to buy into the premise. When it comes to the reality of the Zombie Property Apocalypse though, it’s a completely different story. You may have read or heard about “Zombie Properties” in the… Continue Reading

Fifth Circuit Rules that a C-Corporation’s S-Corp Affiliate’s Rents Cannot be Classified as Passive Income (Section 469)

Posted in Business Formation, News and Recent Decisions, Operating a Business, Real Estate, Tax

A Federal Appeals Court ruled earlier this month that an S-Corporation’s rental income from a lease agreement with a C-Corporation with entirely common ownership with the S-Corp, could not be classified as passive activity income, and therefore could not offset the individual’s passive activity losses. Internal Revenue Code section 469 was passed in the 1980s… Continue Reading

Obamacare’s New 3.8% Sales Tax on Real Estate

Posted in Buying, Owning and Selling a Business, Other Legal Issues, Real Estate, Tax

Starting in 2013, a new 3.8% federal tax, known as the “Medicare Tax,” may apply to some gains on the sale of real estate, including even sales of personal residences. However, this is not a general tax and there are some exceptions. It is best to know the rules and seek competent tax advice. The tax… Continue Reading

Inverse Condemnation Available for Allowing Flights Overhead

Posted in Business Litigation, Real Estate

The Wisconsin Supreme Court in Brenner v. New Richmond Regional Airport Commission 2012 WI 98 (July 17, 2012) reversed a circuit court decision dismissing inverse condemnation claims made by property owners abutting a municipal airport due to the effect of flights of private aircraft over their properties resulting from the extension of runways at the… Continue Reading

Use of Property Condition Reports Expands

Posted in Real Estate

Property Condition Reports have been used for a long time with regard to Wisconsin residential real estate. They are also used in commercial and other real estate transactions, but not because they are required by law, but because they are negotiated between the parties. Now that is all changing with respect to vacant land sales… Continue Reading

What is an Apostille?

Posted in Real Estate

I recently had an opportunity to represent a client who was selling a condo in Cancun, Mexico. I got quite an education as to how real estate transactions are handled in other countries, and became very thankful that I practice in the U.S. Such transactions become tricky because the Seller wants to be sure to… Continue Reading

Important Changes to Zoning Law

Posted in Real Estate

The Wisconsin Legislature in its last session made significant changes to the ability of municipalities to regulate commercial and other buildings. Senate Bill 472 prohibits municipalities from imposing cost requirements on repair or remodeling of legal nonconforming structures.  Such structures are not compliant under currrent zoning regulations, but were compliant at the time the current… Continue Reading

It Takes Two to Negotiate

Posted in Real Estate

It is common in exclusive real estate listing contracts for agents to include provisions regarding "Protected Buyers." Included in many standard Wisconsin listing contracts is a clause that a "Protected Buyer" includes a potential buyer who "negotiates directly with Seller by discussing the potential terms upon which the buyer might acquire an interest in the Property." Subject to… Continue Reading

Inadequate Price Not Enough to Allow Courts to Stop Confirmation of a Foreclosure Sale

Posted in News and Recent Decisions, Other Legal Issues, Real Estate

It is common that at a foreclosure sale the mortgagee Bank will submit the winning bid at the amount owed on the mortgage of the property at issue.  But what if the amount owed is significantly less than the “market value” of the house?  Can the court under Wisconsin law refuse to confirm the sale… Continue Reading

Property Condition Report Problems for Sellers

Posted in Real Estate

In the recent Wisconsin case of Griswold v Rogich, decided by the Wisconsin Court of Appeals, it was held that a buyer could reasonbly rely upon a Seller’s representation in a Property Condition Report, even after an inspector pointed out that certain problems may exist and that further experts should be called in.

Proposed Use of Property Not to be Considered in Reviewing Land Divisions Outside City/Village Limits

Posted in Real Estate

The Wisconsin Legislature recently adopted a law which prohibits municipalities from considering the proposed use of property in reviewing requests for land divisions within their extraterritorial authority.  The result is that where a business intends to acquire property outside of a city or village but within 3 miles of its limits, the city or village… Continue Reading