An action with respect to a fraudulent transfer or obligation under ch. 242 shall be barred unless the action is commenced:
(1) Under s. 242.04(1)(a) , within 4 years after the transfer is made or the obligation is incurred or, if later, within one year after the transfer or obligation is or could reasonably have been discovered by the claimant.
(3) Under s. 242.05(2) , within one year after the transfer is made or the obligation is incurred.
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