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Ingly, a lender involved in a typical loan situation needs to understand that their mortgage lien will only remain effective in Wisconsin for 30 years unless an additional notice of such a mortgage lien is placed of record prior to the expiration of the initial 30-year effectiveness period.
First off, Wisconsin Statutes section 893.52 sets a six-year deadline for the filing of any lawsuit "to recover damages for an injury to real or personal property." Here, "real" property means a house, some other building, or physical land.
In Wisconsin, the 6-year SOL on contracts (and thereby, notes) accrues on the date of breach ? here, the date of the missed payment. The more important SOL for note investors is this one ? Wisconsin's 30-year limitation on mortgage foreclosures.
§ 893.43, the 30-year limitations period under Wis. Stat. § 893.33 applies, allowing foreclosure of the mortgage.
Wisconsin, like most states, has different limits depending on the type of crime involved. For example, misdemeanor charges have a three-year time limit for filing, while most felony charges have a six-year statute of limitations. There is no statutory limit on murder charges.