Senate Sponsors: CULLERTON-PETERSON. House Sponsors: MEYER Short description: CIV PRO-TENANCY-DEFRAUD-CREDIT Synopsis of Bill as introduced: Amends the Code of Civil Procedure to exclude from the provision forbidding property held in tenancy by the entirety to be sold upon judgment against one creditor, property that was transferred into tenancy by the entirety in violation of the Uniform Fraudulent Transfer Act. Amends the Joint Tenancy Act. Provides that it is not the intent of the Joint Tenancy Act to enable a person to make a devise, conveyance, assignment, or other transfer of property maintained or intended for maintenance as a homestead by both husband and wife together during coverture declaring that the devise is made to persons, expressly named as husband and wife, as tenants by the entirety in order to defraud a creditor. HOUSE AMENDMENT NO. 1. (House recedes June 1, 1997) Deletes reference to: 765 ILCS 1005/1c Adds reference to: 810 ILCS 5/9-301 from Ch. 26, par. 9-301 Deletes everything. Amends the Code of Civil Procedure to exclude, from the provision forbidding property held in tenancy by the entirety to be sold upon judgment against one creditor, property that was transferred into tenancy by the entirety with the actual intent to hinder, delay, or defraud creditors. Amends the Uniform Commercial Code to provide that an unperfected security interest has priority over the rights of a lien creditor if the lien creditor is a trustee or receiver of a state or federally chartered financial institution and a security interest is granted by the financial institution. Effective immediately. CONFERENCE COMMITTEE REPORT NO. 2. Recommends that the House recede from H-am 1. Recommends that the bill be amended as follows: Adds reference to: 35 ILCS 200/21-260 735 ILCS 5/12-112 from Ch. 110, par. 12-112 Deletes everything. Amends the Property Tax Code. Provides that mineral rights offered for sale at a scavenger tax sale and not sold or confirmed after being offered for sale for 10 consecutive years shall not be offered for sale. Amends the Code of Civil Procedure to exclude, from the provision forbidding property held in tenancy by the entirety to be sold upon judgment against one creditor, property that was transferred into tenancy by the entirety with the sole intent to avoid the payment of debts existing at the time of the transfer beyond the transferor's ability to pay those debts as they become due. Effective immediately. Last action on Bill: PUBLIC ACT.............................. 90-0514 Last action date: 97-08-22 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 0 END OF INQUIRY Full Text Bill Status