Chapter 705 — MULTIPLE-PARTY AND AGENCY ACCOUNTS; NONPROBATE TRANSFERS AT DEATH;TRANSFER ON DEATH SECURITY REGISTRATION
23 sections in this chapter.
Wis. Stat. § 705.01 Definitions
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705.01 Definitions. As used in this subchapter, unless the context otherwise requires: (1) “Account” means a contract of deposit of funds between a depositor and a financial institution, and includes a checking or savings account, certificate of deposit, share account and other l…
Wis. Stat. § 705.02 Creation of multiple-party or agency relationship
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705.02 Creation of multiple-party or agency relationship. (1) Provisions in substantially the following form contained in a signature card, passbook, contract or instrument evidencing an account shall be effective to create the multiple-party accounts described in this subchapter…
Wis. Stat. § 705.03 Ownership during lifetime
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705.03 Ownership during lifetime. Unless there is clear and convincing evidence of a different intent: (1) A joint account belongs, during the lifetime of all parties, to the parties without regard to the proportion of their respective contributions to the sums on deposit and wit…
Wis. Stat. § 705.04 Right of survivorship
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705.04 (2). Unless the context indicates otherwise, “party” includes a guardian, conservator, personal representative or assignee, including an attaching creditor, of a party. (7) “Payment” of sums on deposit includes withdrawal, payment on check or other order of a party, any pl…
Wis. Stat. § 705.05 Designation and powers of agent
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705.05 Designation and powers of agent. (1) A party to an account, notwithstanding such party’s minority, or if the account has multiple parties, all of them acting in concert, may appoint one or more agents for purposes of making withdrawals from the account. The authority of an…
Wis. Stat. § 705.06 Protection of financial institutions
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705.06 (2). Ixonia State Bank v. Schuelke, 171 Wis. 2d 89, 491 N.W.2d 772 (Ct. App. 1992). A P.O.D. beneficiary must be named in the account records of the financial institution such that the financial institution can adhere to its contract to pay the depositor’s funds to the ben…
Wis. Stat. § 705.07 Rights of creditors
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705.07 Rights of creditors. (1) Only the creditors of any living party to an account may subject the entire sums on deposit to their claims, as if such sums resulted solely from contributions made by the debtor party. If a joint or P.O.D. account requires the signatures of all of…
Wis. Stat. § 705.08 Construction
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705.08 Construction. This subchapter shall be construed in such a manner as to ensure reasonable certainty of legal result for those who establish a multiple-party or agency account. History: 1973 c. 291; 1989 a. 331.
Wis. Stat. § 705.09 Applicability of general transfers at death provisions
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705.09 Applicability of general transfers at death provisions. Chapter 854 applies to transfers at death under this subchapter. History: 1997 a. 188. Wisconsin’s New Probate Code. Erlanger. Wis. Law. Oct. 1998. SUBCHAPTER II NONPROBATE TRANSFERS AT DEATH; NONPROBATE TRANSFER OF R…
Wis. Stat. § 705.10 Nonprobate transfers on death
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705.10 Nonprobate transfers on death. (1) A provision for a nonprobate transfer on death in an insurance policy, contract of employment, bond, mortgage, promissory note, certificated or uncertificated security, account agreement, custodial agreement, deposit agreement, compensati…
Wis. Stat. § 705.15 Nonprobate transfer of real property on death
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705.15 Nonprobate transfer of real property on death. (1b) In this section: (a) “Person” means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, government, government subdivision, agency or instrumental…
Wis. Stat. § 705.18 Nonprobate transfer of farming implements at death
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705.18 Nonprobate transfer of farming implements at death. (1) In this section: (a) “Conscious presence” means within the range of any of an individual’s senses. (am) “Disinterested witness” means an individual who is not designated as a TOD beneficiary on a document that he or s…
Wis. Stat. § 705.21 Definitions; transfer on death security registration
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705.21 Definitions; transfer on death security registration. In ss. 705.21 to 705.30: (2) “Beneficiary form” means a registration of a security which indicates the present owner of the security and the intention of the owner regarding the person who will become the owner of the s…
Wis. Stat. § 705.22 Registration in beneficiary form; sole or joint tenancy ownership
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705.22 Registration in beneficiary form; sole or joint tenancy ownership. Only individuals whose registration of a security shows sole ownership by one individual or multiple ownership by 2 or more with right of survivorship, rather than as tenants in common, may obtain registrat…
Wis. Stat. § 705.23 Registration in beneficiary form; applicable law
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705.23 Registration in beneficiary form; applicable law. A security may be registered in beneficiary form if the form is authorized by ss. 705.21 to 705.30 or a similar statute of the state of organization of the issuer or registering entity, the location of the registering entit…
Wis. Stat. § 705.24 Origination of registration in beneficiary form
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705.24 Origination of registration in beneficiary form. A security, whether evidenced by certificate or account, is registered in beneficiary form if the registration includes a designation of a beneficiary to take the ownership at the death of the owner or the deaths of all mult…
Wis. Stat. § 705.25 Form of registration in beneficiary form
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705.25 Form of registration in beneficiary form. Registration in beneficiary form may be shown by the words “transfer on death” or the abbreviation “TOD” or by the words “pay on death” or the abbreviation “POD”, after the name of the registered owner and before the name of a bene…
Wis. Stat. § 705.26 Effect of registration in beneficiary form
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705.26 Effect of registration in beneficiary form. The designation of a TOD beneficiary on a registration in beneficiary form does not affect ownership until the owner’s death. A registration of a security in beneficiary form may be canceled or changed at any time by the sole own…
Wis. Stat. § 705.27 Ownership on death of owner
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705.27 Ownership on death of owner. Subject to the rights of the registering entity under s. 705.28 (2m), on the death of a sole owner or the last to die of multiple owners, ownership of securities registered in beneficiary form passes to the beneficiary or beneficiaries who surv…
Wis. Stat. § 705.28 Protection of registering entity
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705.28 Protection of registering entity. (1) A registering entity is not required to offer or to accept a request for security registration in beneficiary form. If a registration in beneficiary form is offered by a registering entity, the owner requesting registration in benefici…
Wis. Stat. § 705.29 Nontestamentary transfer on death
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705.29 Nontestamentary transfer on death. (1) A transfer on death resulting from a registration in beneficiary form is effective by reason of the contract regarding the registration between the owner and the registering entity and ss. 705.21 to 705.30 and is not testamentary. (2)…
Wis. Stat. § 705.30 Terms, conditions and forms for registration
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705.30 or similar legislation is not in force or was not in force when a registration in beneficiary form was made is nevertheless presumed to be valid and authorized as a matter of contract law. History: 1989 a. 331.
Wis. Stat. § 705.31 Applicability of general transfers at death provisions
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705.31 Applicability of general transfers at death provisions. Chapter 854 applies to transfers at death under this subchapter. History: 1997 a. 188. Wisconsin’s New Probate Code. Erlanger. Wis. Law. Oct. 1998. May 22, 2026, are designated by NOTES. (Published 5-22-26)