Section 16.03. Approved forms.

 

(1)  In addition to forms prepared and approved by the board pursuant to s. 452.05 (1) (b) , Stats., the board approves the following forms for use by brokers:

(a) Forms prepared and approved by the state bar of Wisconsin for deeds, mortgages, mortgage notes, truth-in-lending disclosures, land contracts, release of mortgage, satisfaction of mortgage, assignment of mortgage, and assignment of land contract.

(b) Uniform commercial code forms: 1, 2, 3, 4, 11, 410, 411, 430, 445, 450, and 451.

(c) Contractual forms for the sale, purchase or rental of real estate or a business opportunity located in another state, if the contractual forms are those which licensees may legally and customarily use for such transactions in the state where the real estate or business opportunity is located.

(d) Forms prepared by governmental agencies for use in programs administered by them under authority provided by law.

(e) Forms to be used for a property management agreement between a broker and a landlord, prepared by the broker entering into the agreement, an attorney, or the landlord, that contain provisions relating to leasing, managing, marketing, and overall management of the landlord's property.

(2)  In addition to forms prepared and approved by the board pursuant to s. 452.05 (1) (b) , Stats., the board grants approval of the forms in sub. (1) (c) , (d) , and (e) for use by salespersons. Board-approved contractual forms for use in real estate practice may be used by licensees and shall be available on the department's webpage.

History: Cr. Register, March, 1986, No. 363 , eff. 4-1-86; cr. (1) (d), am. (2), Register, June, 1988, No. 390 , eff. 7-1-88; cr. (1) (e), am. (2), Register, January, 1992, No. 433 , eff. 2-1-92; am. (1) (a), Register, July, 1992, No. 439 , eff. 8-1-92; correction in (2) made under s. 13.92 (4) (b) 6. , Stats., Register November 2011 No. 671 ; CR 13-073 : am. (1) (intro.), (a), (b), (e), (2) Register May 2014 No. 701 , eff. 7-1-14.

Note

Copies of these forms are accessible for printing and downloading from the department's webpage: http://dsps.wi.gov . These forms, form numbers, and form titles are subject to change; for the most current listing refer to the department's webpage. Copies of the board-approved contractual forms for use by real estate licensees are available upon request to the Department of Safety and Professional Services; Division of Professional Credentialing Processing; PO Box 8935; Madison, WI 53708-8935; phone [phone]. Microsoft Windows NT 6.1.7601 Service Pack 1