State of Illinois
92nd General Assembly
Legislation

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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.)

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