95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
HB2722

 

Introduced 2/26/2007, by Rep. Michael J. Madigan - Barbara Flynn Currie - John A. Fritchey

 

SYNOPSIS AS INTRODUCED:
 
735 ILCS 5/12-901  from Ch. 110, par. 12-901

    Amends the Code of Civil Procedure. Makes a technical change in provisions concerning exemption of homesteads from enforcement of judgments.


LRB095 00831 AJO 20833 b

 

 

A BILL FOR

 

HB2722 LRB095 00831 AJO 20833 b

1     AN ACT concerning civil law.
 
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 the extent in value of $15,000 of
9 his or her interest in a farm or lot of land and buildings
10 thereon, a condominium, or personal property, owned or rightly
11 possessed by lease or otherwise and occupied by him or her as a
12 residence, or in a cooperative that owns property that the
13 individual uses as a residence. That homestead and all right in
14 and title to that homestead is exempt from attachment,
15 judgment, levy, or judgment sale for the payment of his or her
16 debts or other purposes and from the laws of conveyance,
17 descent, and legacy, except as provided in this Code or in
18 Section 20-6 of the Probate Act of 1975. This Section is not
19 applicable between joint tenants or tenants in common but it is
20 applicable as to any creditors of those persons. If 2 or more
21 individuals own property that is exempt as a homestead, the
22 value of the exemption of each individual may not exceed his or
23 her proportionate share of $30,000 based upon percentage of

 

 

HB2722 - 2 - LRB095 00831 AJO 20833 b

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