77.22 Imposition of real estate transfer fee.
272 words·~1 min read·
/wi/chapter-77/77-22-2A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
77.22 Imposition of real estate transfer fee.
(1)There is imposed on the grantor of real estate a real estate transfer fee at the rate of 30 cents for each $100 of value or fraction thereof on every conveyance not exempted or excluded under this subchapter. In regard to land contracts, the value is the total principal amount that the buyer agrees to pay the seller for the real estate. This fee shall be collected by the register at the time the instrument of conveyance is submitted for recording. Except as provided in s. 77.255 , at the time of submission the grantee or his or her duly authorized agent or other person acquiring an ownership interest under the instrument, or the judgment creditor in the case of a foreclosure under s. 846.16 , shall execute a return, signed by both grantor and grantee, on the form prescribed under sub.
(2). The register shall enter the fee paid on the face of the deed or other instrument of conveyance before recording, and, except as provided in s. 77.255 , submission of a completed real estate transfer return and collection by the register of the fee shall be prerequisites to acceptance of the conveyance for recording. The register shall have no duty to determine either the correct value of the real estate transferred or the validity of any exemption or exclusion claimed. If the transfer is not subject to a fee as provided in this subchapter, the reason for exemption shall be stated on the face of the conveyance to be recorded by reference to the proper subsection under s. 77.25 .