Wisconsin § 893.425 - Voidable transfers and obligations.

§ 893.425. Voidable transfers and obligations.

An action with respect to a transfer or obligation under ch. 242 shall be barred unless the action is commenced: 893.425(1) (1) Under s. 242.04 (1) (a) , not later than 4 years after the transfer is made or the obligation is incurred or, if later, not later than one year after the transfer or obligation is or could reasonably have been discovered by the claimant. 893.425(2) (2) Under s. 242.04 (1) (b) or 242.05 (1) , not later than 4 years after the transfer is made or the obligation is incurred. 893.425(3) (3) Under s. 242.05 (2) , not later than one year after the transfer is made. 893.425 History History: 1987 a. 192 ; 2023 a. 246 . 893.425 Annotation Sub. (1) sets a one-year statute of limitations from the point at which the claimant discovers or reasonably could have discovered the fraudulent nature of the transfer or obligation. The statute of limitations test is not based on discovery of the transfer; it is based on discovery of the fraudulent nature of the transfer. Official Committee of Unsecured Creditors of Great Lakes Quick Lube LP v. Theisen, 2018 WI App 70 , 384 Wis. 2d 580 , 920 N.W.2d 356 , 18-0333 . 893.425 Note NOTE: The above annotation relates to the Uniform Fraudulent Transfer Act as adopted in ch. 242 prior to the revision and renaming of that chapter to the Uniform Voidable Transactions Law by 2023 Wis. Act 246 .