Partners John Finerty and Nancy Haggerty co-authored the article "State Law preempts Municipal Property Inspection Ordinances" in the April 2016 issue of Wisconsin Lawyer magazine, Vol. 89 No. 4.
Recently enacted 2015 Wisconsin Act 55 and 2015 Wisconsin Act176 significantly change residential and commercial real estate transactions. Local governments are now prohibited from imposing or enforcing time-of-sale requirements on the sale of real estate. Because the old requirements remain on the books, and on the mandated offer to purchase form, lawyers must ensure buyers and sellers are on the same page.
The most recent biennial Wisconsin budget bill, signed into law by Governor Walker on July 12, 2015, as 2015 Wisconsin Act 55, contained a provision that was not widely noticed before its passage but changed residential and commercial real estate transactions significantly. The new law prohibits local governments from imposing or enforcing time-of-sale (TOS) requirements on the sale of real estate. The most common example is a requirement that a home pass a building code inspection before closing. These local ordinances are now illegal and thus unenforceable.
To read the full article, click here.