705.18 Nonprobate transfer of farming implements at death.

364 words·~2 min read·/wi/chapter-705/705-18-5

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)In this section:

(a)“Conscious presence” means within the range of any of an individual’s senses.

(am)“Disinterested witness” means an individual who is not designated as a TOD beneficiary on a document that he or she is acting as a witness to under this section.

1. “Farm implement” means a tractor or machine, including any associated accessories, attachments, fuel, and repair parts, used exclusively and directly in farming.

2. “Farm implement” does not include personal property that is attached to, fastened to, connected to, or built into real property or that becomes an addition to, component of, or capital improvement to real property, and does not include buildings or improvements to real property, regardless of any contribution that the personal property makes to the production process of any machine and regardless of the extent to which that personal property functions as a machine.

3. For purposes of subd. 2. , the following items retain their character as a “farm implement,” regardless of the extent to which they are fastened to, connected to, or built into real property:

a. Auxiliary power generators.

b. Bale loaders.

c. Barn elevators.

d. Conveyors.

e. Feed elevators and augers.

f. Grain dryers and grinders.

g. Milk coolers.

h. Milking machines, including piping, pipeline washers, and compressors.

i. Silo unloaders.

j. Powered feeders, but not including platforms or troughs constructed from ordinary building materials.

(c)“Person” means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, government, government subdivision, agency or instrumentality, public corporation, or any other legal or commercial entity.

(d)“TOD beneficiary” means a person designated as a beneficiary in a document that complies with sub.

(a).

(2)Any interest in a farm implement may be transferred without probate to a designated TOD beneficiary as provided in this section on the death of the sole owner or the last to die of multiple owners.

(a)A TOD beneficiary may be designated on a document that includes all of the following:

1. The name of the owner or owners of the interest in a farm implement that will be transferred.