242.08 Defenses, liability, and protection of transferee or obligee.
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/wi/chapter-242/242-08A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
242.08 Defenses, liability, and protection of transferee or obligee.
(1)A transfer or obligation is not voidable under s. 242.04
(a)against a person who took in good faith and for a reasonably equivalent value given the debtor or against any subsequent transferee or obligee.
(2)To the extent a transfer is voidable in an action by a creditor under s. 242.07
(a), all of the following rules apply:
(am)Except as otherwise provided in this section, the creditor may recover judgment for the value of the asset transferred, as adjusted under sub.
(3), or the amount necessary to satisfy the creditor’s claim, whichever is less. The judgment may be entered against any of the following:
1. The first transferee of the asset or the person for whose benefit the transfer was made.