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Current as of January 01, 2022 | Updated by FindLaw Staff
(1) Any time a payment is made in cash, or any other time the method of payment does not itself provide evidence of payment, the creditor shall furnish the customer, without request, a written receipt, evidencing such payment. The customer shall be entitled upon request, free of charge, to an annual statement of account showing receipts and disbursements.Subject to s. 708.15, upon payment in full of the customer's obligation, the creditor shall release any mortgage by either recording the necessary instrument and forwarding the same to the customer, or by forwarding a satisfaction of such debt to the purchaser of the real property subject to such satisfied mortgage, or the creditor of such purchaser.
(2) A person who commits a violation of this section is liable to the customer in an amount equal to:
(a) Twenty-five dollars; and
(b) The actual damages, including any incidental and consequential damages, sustained by the customer by reason of the violation.
Cite this article: FindLaw.com - Wisconsin Statutes Consumer Transactions (Ch. 421 to 429) § 428.104. Receipts, accounting - last updated January 01, 2022 | https://codes.findlaw.com/wi/consumer-transactions-ch-421-to-429/wi-st-428-104/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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