128.18 Liens.
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/wi/chapter-128/128-18-2A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
128.18 Liens.
(1)Claims which for want of record or for other reasons would not have been valid liens as against creditors of the debtor armed with process, pursuant to which such property has been attached or levied upon, shall not be liens against the estate.
(2)Whenever a creditor is prevented from enforcing his or her rights as against a lien created or attempted to be created by his or her debtor, the receiver or assignee shall be subrogated to and may enforce such rights of such creditors for the benefit of the estate.
(a)In this subsection, “preference” has the meaning given in s. 128.07
(a).
(b)A lien created by, or obtained in or pursuant to any action that was begun against, a person within 4 months before the commencement of proceedings for the appointment of a receiver or the filing of an assignment under this chapter shall be dissolved by the appointment of a receiver or the qualification of the assignee, and the receiver or assignee shall be subrogated to the rights of the holder of the lien for the benefit of all creditors, if:
1. It appears that said lien was obtained and permitted while the debtor was insolvent, and that its existence or enforcement will work a preference, or
3. That such lien was sought and permitted in fraud of the provisions of this chapter.
(4)Liens given or accepted in good faith and for a present consideration which have been properly recorded or filed shall, to the extent of such present consideration only, not be affected by the provisions of this chapter.
(5)All conveyances, transfers, assignments or encumbrances of a debtor’s property, or any part of a debtor’s property, made or given by the debtor within 4 months prior to the filing of a petition or assignment under this chapter with the intent and purpose on the debtor’s part to hinder, delay or defraud any of the debtor’s creditors shall be void as against the debtor’s creditors except as to purchasers in good faith and for a present fair consideration.