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08-15716-7 In re Risler

By: WISCONSIN LAW JOURNAL STAFF//March 8, 2011//

08-15716-7 In re Risler

By: WISCONSIN LAW JOURNAL STAFF//March 8, 2011//

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Bankruptcy
Estate

Where an unambiguous deed gives the debtor an interest in real estate, the trustee is authorized to sell it for the benefit of creditors.

“As the Wisconsin Supreme Court has observed, if a deed is susceptible to only one interpretation on its face, its construction is purely a question of law and extrinsic evidence cannot be used to show the intent of the parties. Rikkers v. Ryan, 76 Wis. 2d 185, 188, 251 N.W.2d 25 (Wis. 1977); see also Grygiel v. Monches Fish & Game Club, Inc., 2010 WI 93, 787 N.W.2d 6, 14 (2010); Konneker v. Romano, 2010 WI 65, 326 Wis. 2d 268, 785 N.W.2d 432, 441 (2010). In Teranis, the Seventh Circuit sympathized with a mother ‘adversely affected by her daughter’s bankruptcy,’ but concluded that the daughter was properly considered a coequal owner of the property and that the trustee was authorized to sell the entire condominium. 128 F.3d at 474. In this case, the unfortunate reality is that it does not matter how Robert acquired his interest in the home, whether he ever lived there, or even that the sale of the property will adversely affect Jerry. What matters is the language of the deed, which unambiguously provides that Robert and Jerry own the property as joint tenants. On the face of the deed, Robert has a 50% interest in the property which the trustee is authorized to sell for the benefit of creditors.”

08-15716-7 In re Risler

W.D.Wis., Utschig, Bankr. J.

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