854.24 – Protection of buyers.
854.24 Protection of buyers. A person who purchases property for value or who receives property in partial or full satisfaction of a legally enforceable obligation is neither obligated under this chapter to return the property nor liable under this chapter for the value of the property, unless the person has notice as described in s. […]
854.25 – Personal liability of recipients not for value.
854.25 Personal liability of recipients not for value. (1) Original recipients. A person who, not for value, receives property to which the person is not entitled under this chapter shall return the property. If the property is not returned, the recipient shall be personally liable for the value of the property to the person who […]
854.26 – Effect of federal preemption.
854.26 Effect of federal preemption. If any provision in this chapter is preempted by federal law with respect to property covered by this chapter, a person who receives property, other than for full consideration, which the person is not entitled to receive under this chapter is subject to s. 854.25. History: 1997 a. 188.
854.30 – Application of certain wills or trusts referring to repealed federal transfer taxes.
854.30 Application of certain wills or trusts referring to repealed federal transfer taxes. (1) A will or trust of a decedent who dies after December 31, 2009, and before January 1, 2011, that contains a formula disposing of certain of the decedent’s property that is determined by reference to exemptions, exclusions, deductions, or credits under […]
854.21 – Persons included in family groups or classes.
854.21 Persons included in family groups or classes. (1) Adopted persons. (a) Except as provided in sub. (7), a gift of property by a governing instrument to a class of persons described as “issue,” “lawful issue,” “children,” “grandchildren,” “descendants,” “heirs,” “heirs of the body,” “next of kin,” “distributees,” or the like includes a person adopted […]
854.22 – Form of distribution for transfers to family groups or classes.
854.22 Form of distribution for transfers to family groups or classes. (1) Interests in heirs, next of kin and the like. Subject to sub. (4), if a statute or governing instrument specifies that a present or future interest is to be created in a designated individual’s “heirs”, “heirs at law”, “next of kin”, “relatives”, “family” […]
854.23 – Protection of payers and other 3rd parties.
854.23 Protection of payers and other 3rd parties. (1) Definition. In this section, “governing instrument” includes an instrument described in s. 854.01, a filed verified statement under s. 865.201, a certificate under s. 867.046 (1m), a confirmation under s. 867.046 (2), or a recorded application under s. 867.046 (5). (2) Liability depends on notice. (a) […]
854.10 – Choice of law.
854.10 Choice of law. The meaning and legal effect of a governing instrument are determined by the local law of the state selected by the transferor in the governing instrument, unless the application of that law is contrary to s. 861.02 or 861.31 or any other public policy of this state otherwise applicable to the […]
854.11 – Gift of securities.
854.11 Gift of securities. (1) Definition. In this section, “securities” includes all of the following: (a) Any note, stock, treasury stock, bond, debenture, evidence of indebtedness, collateral trust certificate, transferable share or voting trust certificate. (b) Any certificate of interest or participation in an oil, gas or mining title or lease or in payments out […]
854.12 – Debt to transferor.
854.12 Debt to transferor. (1) Heir under intestacy. (a) If an heir owes a debt to the decedent, the amount of the indebtedness shall be offset against the intestate share of the debtor heir. (b) In contesting an offset under par. (a), the debtor heir shall have the benefit of any defense that would be […]