Wisconsin Statutes (Last Updated: January 10, 2017)

Section 214.495. Lien priority; advances.

Latest version.

(1) A mortgage taken and recorded by a savings bank shall have priority over all liens, except tax and special assessment liens and liens under ss. 292.31 (8) (i) and 292.81 , upon the mortgaged premises and the buildings and improvements thereon, that are filed after the recording of the mortgage.

(2) Any additional advance made to a borrower, if the mortgage and mortgage note provides for additional advances, may not exceed an amount specified in the mortgage.

1991 a. 221 ; 1993 a. 453 ; 1995 a. 227 ; 1997 a. 27 .

                    
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