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CHAPTER 766
PROPERTY RIGHTS OF MARRIED PERSONS; MARITAL PROPERTY
766.001   Liberal construction; intent.
766.01   Definitions.
766.03   Applicability.
766.15   Responsibility between spouses.
766.17   Variation by marital property agreement.
766.31   Classification of property of spouses.
766.51   Management and control of property of spouses.
766.53   Gifts of marital property to 3rd persons.
766.55   Obligations of spouses.
766.555   Obligations of spouses under open-end plans.
766.56   Credit transactions with married persons.
766.565   Relationship to consumer act.
766.57   Protection of bona fide purchasers dealing with spouses.
766.575   Protection of trustees dealing with spouses.
766.58   Marital property agreements.
766.585   Marital property agreements before determination date.
766.587   Statutory individual property classification agreement.
766.588   Statutory terminable marital property classification agreement.
766.589   Statutory terminable individual property classification agreement.
766.59   Unilateral statement; income from nonmarital property.
766.60   Optional forms of holding property; survivorship ownership.
766.605   Classification of homestead.
766.61   Classification of life insurance policies and proceeds.
766.62   Classification of deferred employment benefits.
766.63   Mixed property.
766.70   Remedies.
766.73   Invalid marriages.
766.75   Treatment of certain property at dissolution.
766.95   Rules of construction.
766.96   Uniformity of application and construction.
766.97   Equal rights; common law disabilities.
Ch. 766 Note NOTE: Chapter 766 was created by 1983 Wis. Act 186 and affected by 1985 Wis. Act 37. Act 37 contains a prefatory note and explanatory notes following most of the sections affected by the act. These notes are not included. The notes in Act 37 were prepared by the legislative council and revised by its staff after the legislature adopted a conference substitute amendment to the original bill. Legislative council information memorandum 85-7, part I, contains original and supplemental explanatory notes to the marital property implementation law, 1985 Wis. Act 37. Part II of the memorandum contains supplemental explanatory notes to the tax provisions of the marital property implementation law, 1985 Wis. Acts 29 and 37.
Ch. 766 Note NOTE: See also 1987 Wis. Act 393, which contains a prefatory note and explanatory notes following the sections affected.
766.001 766.001 Liberal construction; intent.
766.001(1)(1)This chapter is remedial in nature and shall be liberally construed, consistent with s. 766.96.
766.001(2) (2)It is the intent of the legislature that marital property is a form of community property.
766.001 History History: 1983 a. 186; 1985 a. 37.
766.001 Annotation Chapter 766, the Marital Property Act, does not supplant divorce property division provisions. In re Marriage of Kuhlman v. Kuhlman, 146 Wis. 2d 588, 432 N.W.2d 295 (Ct. App. 1988).
766.001 Annotation Anthology of articles and comments on the marital property act. 68 MLR No. 3 (1985).
766.001 Annotation A brief overview: The new Wisconsin marital property act. Weisberger and Wilcox. WBB July, 1984.
766.001 Annotation The marital property law. WBB July, 1984.
766.001 Annotation The trailer bill: A survey of the 1985 amendments to the Wisconsin marital property act. Furrh, WBB December, 1985.
766.001 Annotation Estate planning under Wisconsin's marital property act. Erlanger, Hughes and Weisberger, WBB February, 1986.
766.01 766.01 Definitions. In this chapter:
766.01(1) (1)“Acquiring" property includes reducing indebtedness on encumbered property and obtaining a lien on or security interest in property.
766.01(2) (2)“Appreciation" means a realized or unrealized increase in the value of property.
766.01(2m) (2m)
766.01(2m)(a)(a) Except as provided in pars. (b) and (c), “credit" means the right granted by a creditor to defer payment of a debt, incur debt and defer its payment or purchase property or services and defer payment for the property or services.
766.01(2m)(b) (b) If used in connection with a transaction governed under chs. 421 to 427, “credit" has the meaning specified in s. 421.301 (14).
766.01(2m)(c) (c) Paragraph (a) does not apply to s. 766.56 (2) (c) and (d).
766.01(2r) (2r)
766.01(2r)(a)(a) Except as provided in pars. (b) and (c), “creditor" means a person that regularly extends credit.
766.01(2r)(b) (b) If used in connection with a transaction governed under chs. 421 to 427, “creditor" has the meaning specified in s. 421.301 (16).
766.01(2r)(c) (c) Paragraph (a) does not apply to s. 766.55 (3) to (4m), 766.56 (2) (c) and (d) or 766.61 (4).
766.01(3) (3)“Decree" means a judgment or other order of a court.
766.01(3m) (3m)“Deferred employment benefit" means a benefit from a deferred employment benefit plan.
766.01(4) (4)
766.01(4)(a)(a) “Deferred employment benefit plan" means a plan, fund, program or other arrangement under which compensation or benefits from employment are expressly, or as a result of surrounding circumstances, deferred to a later date or the happening of a future event. “Deferred employment benefit plan" includes but is not limited to a pension, profit sharing or stock-bonus plan, an employee stock-ownership or stock-purchase plan, a savings or thrift plan, an annuity plan, a qualified bond-purchase plan, a self-employed retirement plan, a simplified employee pension and a deferred compensation agreement or plan.
766.01(4)(b) (b) “Deferred employment benefit plan" does not include life, health, accident or other insurance or a plan, fund, program or other arrangement providing benefits similar to insurance benefits, except to the extent that benefits under the plan:
766.01(4)(b)1. 1. Have a present value that is immediately realizable in cash at the option of the employee;
766.01(4)(b)2. 2. Constitute an unearned premium for the coverage;
766.01(4)(b)3. 3. Represent a right to compensation for loss of income during disability; or
766.01(4)(b)4. 4. Represent a right to payment of expenses incurred before time of valuation.
766.01(5) (5)“Determination date" means the last to occur of the following:
766.01(5)(a) (a) Marriage.
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