Senate Bill 84 proposes an amendment to Wisconsin's real estate transfer fee regulations by exempting certain conveyances of real estate interests between grandparents and grandchildren when the transfer is for nominal or no consideration. Currently, the law requires individuals who convey real estate interests to file a transfer return and pay a fee based on the value of the conveyance, which is set at 30 cents for every $100. The bill aims to ease the financial burden on families transferring property within their lineage.

The specific legal language amended in the bill includes the addition of "grandparent and grandchild" to the list of exempt relationships, which already includes parent and child, stepparent and stepchild, and parent and son-in-law or daughter-in-law. This change reflects a broader recognition of family dynamics and aims to facilitate property transfers among family members without incurring additional costs. The bill will take effect for conveyances filed on or after its effective date.

Statutes affected:
Text as Enrolled: 77.25(8), 77.25
Bill Text: 77.25(8), 77.25