Wisconsin § 766.605 - Classification of homestead.

§ 766.605. Classification of homestead.

A homestead acquired after the determination date which, when acquired, is held exclusively between spouses with no 3rd party is survivorship marital property if no intent to the contrary is expressed on the instrument of transfer or in a marital property agreement. A homestead may be reclassified under s. 766.31 (10) . 766.605 History History: 1983 a. 186 ; 1987 a. 393 ; 1991 a. 301 . 766.605 Note NOTE: 1991 Wis. Act 301 contains legislative council notes. 766.605 Annotation The statutory definitions of homestead in ss. 71.52 (3), 706.01 (7), and 990.01 (13) (a) control the meaning of homestead in this section and, accordingly, required a conclusion that the property in this case became a homestead when there was a dwelling on it, occupied by the parties, which occurred after the determination date: the couple’s wedding. As such, the homestead was “held exclusively” between them, as spouses, “when acquired” and was survivorship marital property under this section. Droukas v. Estate of Felhofer, 2014 WI App 6 , 352 Wis. 2d 380 , 843 N.W.2d 57 , 13-0147 . 766.605 Annotation A warranty deed to 2 grantees as “single persons” did not express an intent to classify the property as something other than survivorship marital property when the grantees subsequently married. The use of the phrase “single persons” simply described a fact: that at the time they purchased the vacant lot, the grantees were not married. “Single persons” does not represent a classification of property ownership of any kind, to wit, tenancy in common, joint tenancy, marital property, or any other recognized classification. Droukas v. Estate of Felhofer, 2014 WI App 6 , 352 Wis. 2d 380 , 843 N.W.2d 57 , 13-0147 .