Actions concerning licensees

452.142 Actions concerning licensees. (1) Notwithstanding s. 100.18 (11) (b) 3., 893.43, 893.52, or 893.57, an action concerning any act or omission of a firm or any licensee associated with the firm relating to brokerage services shall be commenced within 2 years after whichever of the following that applies occurs first: (a) A transaction is completed or closed. (b) An agency agreement is terminated. (c) An unconsummated transaction is terminated or expires. (2) The period of limitation under this section may not be reduced by agreement. (3) The period of limitation under this section does not apply to disciplinary actions initiated by the board. History: 2015 a. 258. The clear intent of the statute of repose under sub. (1) (a) is to limit the liability of realtors and their firms after the passage of two years from a completed transaction. The statute is unambiguous in precluding any action, other than a disciplinary action, filed after two years from a closing on a property, including a third-party action for indemnification or contribution. Eddings v. Estate of Young, 2024 WI App 60, 414 Wis. 2d 88, 13 N.W.3d 269, 23-0614.