Terms Used In Wisconsin Statutes 766.15
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Property: includes real and personal property. See Wisconsin Statutes 990.01
(1) Each spouse shall act in good faith with respect to the other spouse in matters involving marital property or other property of the other spouse. This obligation may not be varied by a marital property agreement.
(2) Management and control by a spouse of that spouse’s property that is not marital property in a manner that limits, diminishes or fails to produce income from that property does not violate sub. (1).