94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
HB4189


 
Introduced 11/3/2005, by Rep. Constance A. Howard
 
SYNOPSIS AS INTRODUCED:
 		















735 ILCS 5/12-901  from Ch. 110, par. 12-901







    Amends the Code of Civil Procedure. Raises the homestead exemption to $125,000 (from $15,000) for an individual and $250,000 (from $30,000) for 2 or more individuals.
















LRB094 14460 LCT 49397 b

















 


 


A BILL FOR









 











HB4189

LRB094 14460 LCT 49397 b






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    AN ACT concerning civil procedure.

 
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    Be it enacted by the People of the State of Illinois,
 
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represented in the General Assembly:


 
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    Section 5. The Code of Civil Procedure is amended  by 
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changing Section 12-901 as follows:
 



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    (735 ILCS 5/12-901)
  (from Ch. 110, par. 12-901)


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    Sec. 12-901. Amount. Every individual
is entitled to an 
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estate of
homestead to the extent in value of $125,000
$15,000

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of his or her
interest in
a farm or lot of land and
buildings 
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thereon, a condominium, or personal property,
owned or rightly 
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possessed by lease or otherwise
and occupied by him or her as a 
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residence, or in a cooperative that owns
property that the 
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individual uses as a residence.  That
homestead and all
right in 
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and title to that homestead is exempt from
attachment, 
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judgment, levy,
or judgment sale for the payment of his or her 
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debts or other purposes and
from the laws of conveyance, 
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descent, and legacy, except as provided in this
Code or in 
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Section 20-6 of
the Probate Act of
1975. This
Section is not

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applicable
between joint tenants or tenants in common but it is 
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applicable as to any
creditors of those persons.
If 2 or more 
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individuals own property that is exempt as a homestead, the

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value of the exemption of each individual may not exceed his or 
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her
proportionate share of $250,000
$30,000 based upon 
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percentage of
ownership.

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(Source: P.A. 94-293, eff. 1-1-06.)