Narrative Opinion Summary
The case involves an appeal by Michael and Sandra Lampe, real estate developers, against a circuit court's denial of their motion to vacate a deficiency judgment under WIS. STAT. 806.07. The Lampes, who had personally guaranteed mortgages for properties owned by their company, Foxwood at Geneva National, LLC, defaulted on loan payments following a market downturn. Foreclosure proceedings were initiated by Talmer Bank, and a judgment was granted in 2012. The deficiency judgment was later reduced to over $4.4 million after property sales. In 2018, the Lampes sought to vacate this judgment, arguing improper assessment of the fair value of parcels. The court denied their motion as untimely, noting the Lampes' inactivity for over six years and delayed contestation of over two years. The court determined the deficiency judgment was valid as the fair value was assessed per WIS. STAT. 846.16(2m)(ae). The circuit court's decision was upheld, as it exercised its discretion appropriately. Talmer Bank's motion to declare the appeal frivolous was denied. The appellate court affirmed the order, and the opinion will not be published per WIS. STAT. RULE 809.23(1)(b)5.
Legal Issues Addressed
Assessment of Fair Value in Foreclosure Proceedingssubscribe to see similar legal issues
Application: The court determined the fair value of the parcels using presale appraisal, an affidavit, and tax statements, satisfying the requirements of WIS. STAT. 846.16(2m)(ae).
Reasoning: The court determined the deficiency judgment was not void, as it had evaluated the fair value of the parcels based on presale appraisal, an affidavit, and tax statements, thereby meeting the requirements of WIS. STAT. 846.16(2m)(ae).
Discretion of Circuit Court in Granting Reliefsubscribe to see similar legal issues
Application: The circuit court's discretion in denying the motion to vacate was upheld due to a reasonable basis for its decision, considering the Lampes' admission of liability and inactivity.
Reasoning: The decision to grant relief is at the circuit court's discretion, which is upheld if a reasonable basis for the decision is found.
Frivolous Appeal and Attorney Feessubscribe to see similar legal issues
Application: The court denied Talmer Bank's motion to deem the appeal frivolous and award attorney fees, finding the appeal was not frivolous.
Reasoning: The court also addressed Talmer Bank's motion to deem the appeal frivolous and award attorney fees, concluding that the appeal was not frivolous, and denied the motion.
Motion to Vacate a Judgment under WIS. STAT. 806.07subscribe to see similar legal issues
Application: The Lampes sought to vacate a deficiency judgment claiming the court failed to determine the fair value of undeveloped parcels. The motion was denied due to untimeliness and lack of void judgment.
Reasoning: Michael and Sandra Lampe appealed a circuit court order that denied their motion to vacate a deficiency judgment against them under WIS. STAT. 806.07 (2017-18).
Timeliness Requirement for Relief from Judgmentsubscribe to see similar legal issues
Application: The Lampes' delay of over two years to contest the deficiency judgment rendered their motion untimely under WIS. STAT. 806.07(2), barring relief under sections (g) and (h).
Reasoning: The court found no error in its discretion, highlighting that the Lampes... delayed more than two years to contest the judgment, rendering their motion untimely under WIS. STAT. 806.07(2).