895.345 Justification of individual sureties. - Wisconsin Statutes

895.345

895.345 Justification of individual sureties.

895.345(1)

(1) This section shall apply to any bond or undertaking in an amount of more than $1,000 whereon individuals are offered as sureties, which is authorized or required by any provision of the statutes to be given or furnished in or in connection with any civil action or proceeding in any court of record in this state, in connection with which bond or undertaking real property is offered as security.

895.345(2)

(2) Before any such bond or undertaking shall be approved, there shall be attached thereto and made a part of such bond or undertaking a statement under oath in duplicate by the surety that the surety is the sole owner of the property offered by the surety as security and containing the following additional information:

895.345(2)(a)

(a) The full name and address of the surety.

895.345(2)(b)

(b) That the surety is a resident of this state.

895.345(2)(c)

(c) An accurate description by lot and block number, if part of a recorded and filed plat, or by metes and bounds of the real estate offered as security.

895.345(2)(d)

(d) A statement that none of the properties offered constitute the homestead of the surety.

895.345(2)(e)

(e) A statement of the total amount of the liens, unpaid taxes and other encumbrances against each property offered.

895.345(2)(f)

(f) A statement as to the assessed value of each property offered, its market value and the value of the equity over and above all encumbrances, liens and unpaid taxes.

895.345(2)(g)

(g) That the equity of the real property is equal to twice the penalty of the bond or undertaking.

895.345(3)

(3) This sworn statement shall be in addition to and notwithstanding other affidavits or statements of justification required or provided for elsewhere in the statutes in connection with such bonds and undertakings.

895.345 - ANNOT.

History: 1993 a. 486; 1999 a. 96.

895.345 - ANNOT.

Cross-reference: This section does not apply to bonds of personal representatives. See s. 856.25.