(735 ILCS 5/12-714) (from Ch. 110, par. 12-714)
Sec. 12-714.
Property surrendered in enforcement of a judgment and disposition thereof.
(a) A garnishee having property other than money belonging to the
judgment debtor, which the garnishee is obligated to deliver to the
judgment debtor, shall deliver to the officer holding a certified copy of
the judgment for the enforcement thereof against
the judgment debtor so much thereof as is necessary to satisfy
the amount due upon the judgment and costs.
(b) If mortgaged or pledged property is in the possession of a garnishee,
or property is held for the payment of a debt to the garnishee, the
judgment creditor may, under order of court, pay or tender the amount
due to the garnishee; and the garnishee shall thereupon deliver the
property to the officer holding the certified copy of the judgment for the
enforcement thereof against the judgment
debtor.
(c) Nothing contained in Part 7 of Article XII of this Act shall be
construed to prevent the
garnishee from selling property in his or her possession for the payment of claims
for which it is mortgaged, pledged or otherwise held at any time before
the amount due to the garnishee is paid or tendered, if the sale would be
authorized as between the garnishee and the judgment debtor.
(d) If property is held for purposes other than to secure the
payment of money, and if the promise, condition or other act to be
performed can be performed by the judgment creditor without damage to
other parties, the court may permit performance by the judgment
creditor. Upon performance, or a tender of performance, by the judgment
creditor the garnishee shall deliver the property to the officer holding
the certified copy of the judgment for the enforcement thereof against the
judgment debtor.
(e) Property received by an officer as described in this Section
shall be sold in the same manner as if levied upon for the satisfaction
of a judgment for the payment of money and
from the proceeds of sale the officer shall repay the judgment creditor
the amount paid the garnishee for the redemption, with interest, or
shall indemnify the judgment creditor for acts done or performed
pursuant to order of court in the redemption.
(Source: P.A. 83-707.)
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