Legal Question in Real Estate Law in Wisconsin

I apologize that I cannot really tell much from your question in terms of what is going on with regard to your business and its sale. In WI, a sheriff�s sale is often the final stage of a real estate mortgage foreclosure by a bank, which gives a title to the successful auction bidder that is free and clear of most liens placed on the property by the borrower after the bank's mortgage. If your lien is "behind" that of the bank (in terms of the date of recording with the register of deeds office), then the bank's foreclosure will usually wipe out your lien claim, although your brother may still be liable to you on the promissory note (which will become a mere unsecured obligation either if never recorded or after being wiped out by the foreclosure). If your brother does not declare a personal bankruptcy, you may therefore still be able to sue him and garnishee wages or other nonexempt assets if any. You also owe it to yourself to have a consultation with a bankruptcy lawyer, which will often be free, since a bankruptcy by you may at least temporarily stop the bank's foreclosure and could sometimes allow the trustee to conduct a more orderly sale of the business for the benefit of creditors, including yourself. My comments here are not legal advice, nor do they create an attorney client relationship between us. However, you are welcome to contact my office to discuss retaining me or to set up a free initial consultation at my office in Racine. I also can sometimes arrange to travel outside of Racine for initial consultations if absolutely necessary.