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Wisconsin Statutes Probate (Ch. 851 to 882) § 859.19. Secured claims

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) When a creditor holds any security for a claim the security shall be described in the claim, and the judgment allowing the claim shall describe the security. The security is sufficiently described if the security document is described by date and by the recording or filing data.

(2) Payment of the claim shall be upon the basis of:

(a) The full amount thereof if the creditor surrenders the security; or

(b) If the creditor realizes on the security before receiving payment, then upon the full amount of the claim allowed less the fair value of the security.

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Cite this article: FindLaw.com - Wisconsin Statutes Probate (Ch. 851 to 882) § 859.19. Secured claims - last updated January 01, 2025 | https://codes.findlaw.com/wi/probate-ch-851-to-882/wi-st-859-19/

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