Legal Question in Real Estate Law in Wisconsin

I sold my bar/restaurant to a fellow approx. 4 years ago via land contract. He is now falling behind on his payments, the current owners are elderly but very wise to this business. I worry that they may sell off equipment etc. if the strict foreclosure process takes very long. What is the time frame from the time loan is in default to the time I can get him out/I can take over property assuming he does not make payments current?


Asked on 1/18/14, 3:55 am

1 Answer from Attorneys
James N. Graham Accession Law LLC

The technical answer depends upon the terms of your contract or contracts. Then, the Court process will include, at an absolute minimum, a 20 day answer period and a 7 redemption period. In my experience, 6 months is a reasonable estimate for the entire process, but it can vary greatly.

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Answered on 1/22/14, 11:52 am


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