Wis. Stat. § 893.425

Current through Acts 2023-2024, ch. 272

Section 893.425 - Voidable transfers and obligations

An action with respect to a transfer or obligation under ch. 242 shall be barred unless the action is commenced:

(1) Under s. 242.04 (1) (a), not later than 4 years after the transfer is made or the obligation is incurred or, if later, not later than one year after the transfer or obligation is or could reasonably have been discovered by the claimant.

(2) Under s. 242.04 (1) (b) or 242.05 (1), not later than 4 years after the transfer is made or the obligation is incurred.

(3) Under s. 242.05 (2), not later than one year after the transfer is made .

Wis. Stat. § 893.425

Amended by Acts 2023 ch, 246,s 37, eff. 3/29/2024.

1987 a. 192.

Sub. (1) sets a one-year statute of limitations from the point at which the claimant discovers or reasonably could have discovered the fraudulent nature of the transfer or obligation. The statute of limitations test is not based on discovery of the transfer; it is based on discovery of the fraudulent nature of the transfer. Official Committee of Unsecured Creditors of Great Lakes Quick Lube LP v. Theisen, 2018 WI App 70, 384 Wis. 2d 580, 920 N.W.2d 356, 18-0333.