GMAC Mortgage Corp. v. Gisvold

In GMAC Mortgage Corp. v. Gisvold, 215 Wis. 2d 459, 572 N.W.2d 466 (1998), the Court held that where the purchasers did not submit the balance of their deposit within ten days of the sale's confirmation, the court was required to order forfeiture of the deposit and resale of the premises. In GMAC, the court interpreted Wis. Stat. 846.17, which provides that if the purchaser fails to pay any part of the purchase price remaining to be paid within ten days after the sale's confirmation, the deposited amount shall be forfeited and there shall be a resale of the property. The court held that 846.17 is mandatory, not discretionary. See GMAC, 215 Wis. 2d at 479.