State Codes and Statutes

Statutes > Wisconsin > 779 > 779.98

779.98

SUBCHAPTER XII
LIENHOLDER; ACQUISITION OF PRIOR LIEN
779.98 Payment of prior real estate liens.

779.98(1)

(1) Any person having a lien on real estate against which there is a prior lien may pay any or all of the items in sub. (2). The amounts paid shall be added to the payor's lien, with interest from the date of payment at the same rate as when paid, or if no rate was provided for prior to such payment, at the legal rate of interest. Interest on amounts paid for items described in sub. (2) (d) shall be computed at the rate under s. 74.77. All sums so paid shall be collected as a part of and in the same manner as is the lien by virtue of which said payments are made and be entitled to the same priority.

779.98(2)

(2) The items, any or all of which may be paid under sub. (1), are as follows:

779.98(2)(a)

(a) Any past due or defaulted principal or interest of a prior lien.

779.98(2)(b)

(b) Any interest or amortized installment due under a prior lien.

779.98(2)(c)

(c) Premiums and assessment on insurance policies necessary to protect the security of the lienor making such payments or of any prior lien and authorized under the terms of either such lien.

779.98(2)(d)

(d) Taxes or special assessments due and unpaid on any realty covered by the lien with interest, penalties and costs.

779.98(2)(e)

(e) Any portion of a prior lien.

779.98(2)(f)

(f) Any charge for improvements or any other item authorized by statutes or by the terms of any prior lien.

779.98(3)

(3) Payments made under sub. (1) shall be proved by the affidavit of the person making the payment or the person's agent or attorney, giving the items paid, the dates when paid and the description of the real estate on which the lien is claimed, shall have priority over any liens which were subsequent to the lien of the person making the payment at the date of such payments, and shall also have priority over any lien filed after such affidavit is recorded with the register of deeds of the county where the land is located. Said payments shall also be prior to any liens filed before the recording of such affidavit if such filing was made with knowledge of such payments.

779.98(4)

(4) The payments may be made during the period in which any lien is being enforced, or during the redemption period. An affidavit of the payments as provided in sub. (3) may be recorded with the register of deeds, and a copy of the affidavit shall be furnished by the sheriff at least 5 days before the expiration of the redemption period.

779.98(5)

(5) If the lienor at the time of making such payment has an equal priority with other lienors, and the property securing such liens does not sell for a sufficient sum to pay all liens, the person making such payments shall be repaid the amounts thereof before the other equal lienors receive any share in the proceeds of such sale.

779.98 - ANNOT.

History: 1987 a. 378 s. 76; Stats. 1987 s. 779.98; 1987 a. 403; 1993 a. 301, 486.