A Wisconsin deed of trust is a legal agreement that secures a property owner’s obligation to a lender by transferring their title to a trustee until their debt is settled. This deed provides security for a loan transaction conveyed in a promissory note and states that the title will be returned to the owner upon the loan’s repayment. If the borrower defaults on their obligation, the trustee has the right to convey their property in a non-judicial foreclosure; that is, a more efficient sale of the property that occurs out of court.
- Statutes: Chapter 706 (§§ 706.001 – 706.25)
- Formatting: § 59.43(2m), § 59.43(5), § 59.43(7), § 706.02, § 706.05
- Signing Requirements (§ 706.06): Notary Public
- Where to Record: County Register of Deeds (County Map)
- Recording Fees (§ 59.43(2)(ag)(1)): $30 (no page limit)
- Real Estate Transfer Return (eRETR): When filing a deed, the grantor (or “borrower” in a deed of trust) must provide the Register of Deeds a printed copy of the eRETR receipt (issued after completing the online application).
Related Forms (1)
Wisconsin Promissory Note – Allows a borrower to accept the terms of a loan agreement.