Opinion
No. 2013AP662.
2014-04-15
BELCORP FINANCIAL SERVICES, INC., Plaintiff–Appellant, v. ESTATE OF Richard B. WETZEL and Ruth I. Wetzel, Defendants–Respondents, M & I Bank of Eagle River, Vilas County and Wisconsin Child Support Agency, Defendants.
The forbearance agreement, by its terms, waives any defenses to “obligations under their personal guaranty.” As noted above, however, the underlying guaranty was invalid: Wetzel's defenses remained viable, including the forgery defense. Ultimately, the forbearance agreement cannot legitimize a conveyance that did not meet the Wis. Stat. § 706.02 requirements. The circuit court properly granted the Wetzels' motion for summary judgment on the invalid mortgage. (Emphasis added.) The statute further provides: “If, after notice and a reasonable opportunity to respond, the court determines that sub. (2) has been violated, the court may impose an appropriate sanction upon the attorneys, law firms, or parties that have violated sub. (2) or are responsible for the violation.” Wis. Stat. § 802.05(3).