Real Estate

Title to Real Estate: Unmarried Cohabitants

There are circumstances where unmarried persons purchase homes together. In most of those cases, the couples take title as joint tenants, which means that upon the death of one of them, title is automatically vested by operation of law in the survivor. On the other hand, if the unmarried couples take title as tenants in common, it is almost always on a 50-50 basis.

The problems arise when the relationship ends. The question that we are often asked is: Are there common law rights for unmarried cohabitants?

Banks Beware: Despite “AS IS” clause, homebuyer wins due to Bank’s “misrepresentation”

January 6, 2016
 
As a continuing free service, Clair Law Offices, S.C. thought you might be interested in a recent Wisconsin Court of Appeals decision issued on December 23, 2015, involving financial institutions, foreclosures, and sales of real estate after obtaining a foreclosure judgment.
 
Key Facts
 

Do You Know What Might Be Hiding in that Real Estate Listing Contract?

“Don’t sign anything until an attorney has an opportunity to review the document”
 
That includes listing contracts, and here’s one example why.
 
Key Facts
 
On July 10, 2015, a real estate company received a $378,000 commission without actually selling the property. The Wisconsin Supreme Court made the decision based on the language of the listing agreement between the seller and the realtor and the “enforceable contract” in place against the buyer. Ash Park LLC v. Re/Max Select LLC (July 7, 2015).
 

Am I Legally Required to Sign a Real Estate Condition Report?

November 17, 2014

Am I Legally Required to Sign a Real Estate Condition Report?

No.

Although many Sellers are told that they are “required by law” to fill out and sign a Real Estate Condition Report (RECR), the relevant statute provides a number of exceptions. For instance, “personal representatives, trustees, conservators, and fiduciaries who are appointed by, or subject to the supervision of, a court” are excepted from RECR’s. (Wis. Stat. 709.01(2)).

Moreover, even if you are just a normal seller, you may be excepted from filling out a RECR. For example, the statute provides that if the buyer signs a written waiver, then you do not have to fill out the RECR. (Wis. Stat. 709.08). Similarly, if the buyer proceeds to closing without receiving the RECR, the buyer can no longer rescind the contract because of the lack of an RECR. (Wis. Stat. 709.08).