[ Back ] [ Bottom ]
92_SB1234eng
SB1234 Engrossed LRB9202848DJpr
1 AN ACT in relation to civil procedure.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Code of Civil Procedure is amended by
5 changing Section 12-901 as follows:
6 (735 ILCS 5/12-901) (from Ch. 110, par. 12-901)
7 Sec. 12-901. Amount. Every individual is entitled to an
8 estate of homestead to the extent in value of $30,000 $7,500
9 of his or her interest in a farm or lot of land and buildings
10 thereon, a condominium, or personal property, owned or
11 rightly possessed by lease or otherwise and occupied by him
12 or her as a residence, or in a cooperative that owns property
13 that the individual uses as a residence. That homestead and
14 all right in and title to that homestead is exempt from
15 attachment, judgment, levy, or judgment sale for the payment
16 of his or her debts or other purposes and from the laws of
17 conveyance, descent, and legacy, except as provided in this
18 Code or in Section 20-6 of the Probate Act of 1975. This
19 Section is not applicable between joint tenants or tenants in
20 common but it is applicable as to any creditors of those
21 persons.
22 If 2 or more individuals own property that is exempt as a
23 homestead, the value of the exemption of each individual may
24 not exceed his or her proportionate share of $15,000 based
25 upon percentage of ownership.
26 (Source: P.A. 88-672, eff. 12-14-94.)
[ Top ]