766.51 – Management and control of property of spouses.
766.51 Management and control of property of spouses. (1) A spouse acting alone may manage and control: (a) That spouse’s property that is not marital property. (am) Except as provided in subs. (2) and (3), marital property held in that spouse’s name alone or not held in the name of either spouse. (b) Marital property […]
766.53 – Gifts of marital property to 3rd persons.
766.53 Gifts of marital property to 3rd persons. A spouse acting alone may give to a 3rd person marital property that the spouse has the right to manage and control only if the value of the marital property given to the 3rd person does not aggregate more than either $1,000 in a calendar year, or […]
766.55 – Obligations of spouses.
766.55 Obligations of spouses. (1) An obligation incurred by a spouse during marriage, including one attributable to an act or omission during marriage, is presumed to be incurred in the interest of the marriage or the family. A statement separately signed by the obligated or incurring spouse at or before the time the obligation is […]
766.555 – Obligations of spouses under open-end plans.
766.555 Obligations of spouses under open-end plans. (1) In this section: (a) “Open-end plan” means credit extended on an account pursuant to a plan under which the creditor may permit a spouse to make purchases or obtain loans, from time to time, directly from the creditor or indirectly by use of a credit card, check […]
766.56 – Credit transactions with married persons.
766.56 Credit transactions with married persons. (1) If a spouse applies for credit that will result in an obligation described under s. 766.55 (2) (b), the creditor, in evaluating the spouse’s creditworthiness, shall consider all marital property available under s. 766.55 (2) (b) to satisfy the obligation in the same manner that the creditor, in […]
766.565 – Relationship to consumer act.
766.565 Relationship to consumer act. (1) In this section, “open-end credit plan” has the meaning given under s. 421.301 (27). The term includes only those plans governed by chs. 421 to 427. (2) Except as provided under sub. (6), this section does not impose any additional or separate notice requirements on a creditor. (3) The […]
766.57 – Protection of bona fide purchasers dealing with spouses.
766.57 Protection of bona fide purchasers dealing with spouses. (1) In this section: (a) “Bona fide purchaser” means a purchaser of property for value who was not knowingly a party to fraud or illegality affecting the interest of the spouses or other parties to the transaction, does not have notice of an adverse claim by […]
766.001 – Liberal construction; intent.
766.001 Liberal construction; intent. (1) This chapter is remedial in nature and shall be liberally construed, consistent with s. 766.96. (2) It is the intent of the legislature that marital property is a form of community property. History: 1983 a. 186; 1985 a. 37. Chapter 766, the Marital Property Act, does not supplant divorce property […]
766.01 – Definitions.
766.01 Definitions. In this chapter: (1) “Acquiring” property includes reducing indebtedness on encumbered property and obtaining a lien on or security interest in property. (2) “Appreciation” means a realized or unrealized increase in the value of property. (2m) (a) Except as provided in pars. (b) and (c), “credit” means the right granted by a creditor […]
766.03 – Applicability.
766.03 Applicability. (1) Except as provided in sub. (4) and ss. 766.58 (5), (11) and (12) and 766.585, this chapter first applies to spouses upon their determination date. (2) After this chapter first applies to spouses, it continues to apply to spouses during marriage. Section 766.75 applies after a dissolution. If at the time of […]