786.01 786.01  Conveyance of lands held in trust by persons under disability. Whenever any minor or person incompetent to manage his or her affairs is seized or possessed of any lands or interest in any lands by way of mortgage or in trust only for others, the circuit court of the proper county may, upon the petition of the guardian of the minor or incompetent person or of any person in any way interested in the real estate, make an order authorizing or compelling the minor or incompetent person to convey and assure the lands or interest in the lands to any person entitled thereto, in such manner as the court directs.

786.02 786.02  Specific performance of incompetent's contract. A circuit court may authorize or compel the specific performance of any contract made by any person who becomes incompetent before the performance thereof, on the complaint or petition of the guardian of the incompetent person or of any other person interested in the contract.

786.03 786.03  Specific performance; order; appeal. No order authorizing or directing any such conveyance or the performance of any such contract shall be made until after hearing the parties and being satisfied that such conveyance ought to be made or such contract ought to be performed. The court may, by such order, direct the guardian of such incompetent person, or a special guardian appointed in such proceeding, to do any act which is necessary to carry such order into effect. The court may further direct that the reasonable expenses of the proceedings be paid out of the proceeds of the sale. No appeal shall lie from such order unless notice of intention to appeal shall be filed with the court within 10 days after date of the order. The court may enforce such order by any proper proceedings.

786.04 786.04  Specific performance; conveyance; warranties. The court may require the guardian to convey the real estate which such incompetent person might or ought to have conveyed if still competent. Where such incompetent person contracted before incompetency to convey real estate by warranty deed, the guardian shall convey by warranty deed subject to any exceptions set forth in the incompetent's contract to convey. The guardian shall not be personally liable because of any breach of such warranty, but such warranty deed shall have the same effect for all purposes as if the incompetent had executed it at such time while competent. This section is applicable where an incompetent before incompetency made an assignment of a contract to convey real estate but did not deed to the assignee the title to the premises covered by the contract.

786.05 786.05  Specific performance; recording order; effect. A certified copy of such judgment directing such conveyance, which is recorded in the office of the register of deeds in the county where the lands lie, shall be prima facie evidence of the correctness of the proceedings and of the authority of the guardian to convey. Every such conveyance shall be as effectual in passing the estate as if the incompetent were then competent and executed the conveyance.

786.06 786.06  Realty of wards; grounds for mortgage, sale, lease. Any real estate, or interest therein belonging to a minor or to a person incompetent to manage personal affairs may be sold, mortgaged or leased:

786.07 786.07  Realty of wards or incompetents; application for sale or encumbrance. The application for the disposition must be made to the circuit court of the county in which the real estate or some part thereof is situated or to the circuit court of the county in which the general guardian for the minor or incompetent person has been appointed, by petition of the general guardian of the minor or of the incompetent person or by any relative or other person in behalf of either. The petition must be verified and must set forth the facts which would authorize the selling, mortgaging or leasing of the real estate or some part of the real estate for one or more of the reasons set forth in s. 786.06. If the real estate sold or some part of the real estate is situated in a county other than that in which the proceeding is taken, a certified copy of the order confirming the sale containing the name of the purchaser, the selling price and a description of the property sold shall be recorded in the office of the register of deeds of the county in which the real estate or any part of the real estate is situated. When the minor or incompetent person has a general guardian and the application is to any court other than the court in which the general guardian was appointed, notice of hearing of the application shall be given by mailing a copy of the notice to the judge of the court that appointed the general guardian, and also to the general guardian, unless he or she is the petitioner, at least 10 days before the date of the hearing.

786.08 786.08  Realty of wards; guardian; bond; prosecution of breach.

786.09 786.09  Inquiry relative to sale or encumbrance. Upon the presentation of such petition and the filing of such bond the court or the presiding judge may proceed in a summary manner to inquire into the merits of such application or make an order referring it to some suitable person as referee to inquire into and report upon the matters contained in such petition, whose duty it shall be to examine into the truth of the representations made, to hear the parties interested in the property or otherwise interested in the application and report thereupon with all convenient speed.

786.10 786.10  Order for lease, mortgage, sale. If, after an examination of the matter by the court or judge to which application is made, without a reference, or on the coming in of the report of the referee, and on examination of the matter, it shall satisfactorily appear that a disposition of any part of the real estate of such minor or incompetent person or any interest therein is necessary and proper, for any of the causes mentioned in s. 786.06 such court or judge shall make an order directing and authorizing the guardian to contract for the leasing, mortgaging or sale of such real estate or interest therein or of such part thereof as the court or judge shall deem proper in such manner and with such restrictions as shall be deemed expedient.

786.11 786.11  Contract for lease, mortgage, sale; approval. No lease, mortgage or sale shall be made until an agreement therefor shall have been entered into by such guardian subject to the approval of the proper court or judge. Upon the confirmation of such agreement by such court or judge the guardian must execute a lease, mortgage or deed as directed by the order of confirmation. The guardian, general or special, may expend usual and customary brokers' fees, as well as necessary expenditures for abstracting, title insurance, survey, revenue stamps and other necessary costs and expenses in connection with the sale, all subject to review and approval by the court.

786.12 786.12  Wards; other disposal of real estate; acquisition of real estate. The courts and judges mentioned in this chapter are further empowered and authorized to make any other disposition of the real estate of any minor or other ward mentioned herein when it shall be made to appear to such court or judge that such proposed disposition will substantially promote the interests of any such ward. The court or judge of the court in which the general guardian has been appointed is empowered to authorize the purchase in the name of such ward of any real estate within the state of Wisconsin when it shall be made to appear to such court or judge that such proposed purchase will substantially promote the interests of such ward, provided that no debt shall be incurred or assumed by such ward for purchase of any such real estate. The provisions of this chapter are applicable to all proceedings under this section.

786.13 786.13  Platting realty of wards before sale. Whenever an order shall have been made for the sale of any such real estate and it shall be made to appear to the court or judge that the interest of the minor or other ward would be promoted by platting such real estate the court or judge may, by order, authorize the guardian either alone or together with the cotenants, if any, or other owners, to make and acknowledge a plat of such real estate in the manner prescribed in ch. 236. A plat made pursuant to such order, certified and acknowledged in manner and form prescribed in ch. 236 and approved by the court or presiding judge, shall be as valid and effectual as if made by such minor when of full age or by such incompetent person when of sound memory and understanding. After such plat shall have been duly made and recorded such guardians may make separate sales of any lot or lots, according to such plat, or of such ward's interest therein in the manner above prescribed.

786.14 786.14  Realty of wards; will or conveyance not disregarded. No real estate or interest therein shall be sold, mortgaged or leased under the provisions of this chapter contrary to the provisions of any will by which the same was devised or of any conveyance by which the same was transferred to such minor or incompetent person.

786.15 786.15  Realty of wards, validity of the conveyance. Every deed, mortgage, lease or other conveyance made in good faith by the guardian of a minor or incompetent person, pursuant to any order or judgment of a circuit court, made under the provisions of this chapter, shall be as valid and effectual as if made by the minor when of full age or by the incompetent person when of sound memory and understanding.

786.16 786.16  Realty of wards; effect of sale; proceeds realty. No sale of the real estate of any minor or incompetent person shall give to such minor or incompetent person any other or greater interest or estate in the proceeds of such sale than the minor or incompetent person had in the estate so sold; but the said proceeds shall be deemed real estate of the same nature as the property sold.

786.17 786.17  Realty of wards, proceeds, how applied; accounts.

786.18 786.18  Ward's estate is subject to particular estates.

786.19 786.19  Ward's particular estate, disposition. Where the interest of the minor or incompetent person in real estate consists of an estate for life or for years the court or presiding judge may, by order, authorize the guardian to join with the person holding the reversionary estate in a conveyance of the property to which such interest attaches, so as to fully convey the particular estate, on receiving from the proceeds of the sale a gross sum in satisfaction of such estate or such proceeds or the proper portion thereof to be invested, and the interest thereon paid to the person having such estate until the termination thereof; in either case the amount to be ascertained as prescribed in s. 786.18. When the proceeds or a proportionate part of such proceeds is received by the guardian for investment, the order of the court or presiding judge must provide for the investment thereof until termination of the particular estate, and then for the payment thereof to the person entitled thereto.

786.20 786.20  Minor, or incompetent, ward of the court. From the time of application on behalf of a minor or of an incompetent person having no guardian for the disposition of property the minor or incompetent person shall be considered the ward of the court in which the application is made, so far as it relates to property, its proceeds and income.

786.21 786.21  Estate of incompetent, management. The real estate of an incompetent person shall not be leased for more than 5 years, or mortgaged or disposed of otherwise than is authorized and directed by this chapter.

786.25 786.25  Nonresident wards, foreign guardian to convey estate; special guardian.

786.26 786.26  Future estates may be sold. Any real estate or interest therein which may at any time in the future be owned or possessed by any after-born child or by any person, whether in being or not, known or unknown, who shall or may become interested therein under and by virtue of any deed or other instrument, or by any last will and testament, may be sold, mortgaged, leased or otherwise disposed of as provided in ss. 786.26 to 786.35.