(735 ILCS 5/Art. XII Pt. 9 heading) Part 9.
Exemption of Homestead
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(735 ILCS 5/12-901)
(from Ch. 110, par. 12-901)
Sec. 12-901. Amount. Every individual
is entitled to an estate of
homestead to the extent in value of $15,000 of his or her
interest in
a farm or lot of land and
buildings thereon, a condominium, or personal property,
owned or rightly possessed by lease or otherwise
and occupied by him or her as a residence, or in a cooperative that owns
property that the individual uses as a residence. That
homestead and all
right in and title to that homestead is exempt from
attachment, judgment, levy,
or judgment sale for the payment of his or her debts or other purposes and
from the laws of conveyance, descent, and legacy, except as provided in this
Code or in Section 20-6 of
the Probate Act of
1975. This
Section is not
applicable
between joint tenants or tenants in common but it is applicable as to any
creditors of those persons.
If 2 or more individuals own property that is exempt as a homestead, the
value of the exemption of each individual may not exceed his or her
proportionate share of $30,000 based upon percentage of
ownership.
(Source: P.A. 94-293, eff. 1-1-06.)
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(735 ILCS 5/12-902) (from Ch. 110, par. 12-902)
Sec. 12-902.
Exemption after death or desertion.
Such exemption shall
continue after the death of such
individual, for the benefit of the spouse surviving,
so long as he or she continues to occupy such homestead, and of the children
until the youngest child becomes 18 years of age; and in case the spouse
deserts his or her family, the exemption shall continue in favor of the
one occupying the premises as a residence.
(Source: P.A. 82-783.)
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(735 ILCS 5/12-903) (from Ch. 110, par. 12-903)
Sec. 12-903. Extent of exemption. No property shall, by virtue of Part
9 of this Article, be exempt
from sale for
nonpayment of taxes or assessments, or for a debt or liability incurred
for the purchase or improvement thereof, or for enforcement of a lien
thereon pursuant to paragraph (g)(1)
of Section 9 of the "Condominium
Property Act", approved June 20, 1963, as amended,
or be exempt from enforcement of an eviction order
pursuant to paragraph (a)(7) or (a)(8) of Section 9-102 of this Code.
This amendatory Act of the 92nd General Assembly is intended as a
clarification of existing law and not as a new enactment.
(Source: P.A. 100-173, eff. 1-1-18 .)
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(735 ILCS 5/12-903.5)
Sec. 12-903.5. Drug asset forfeitures.
(a) The homestead exemption under this Part 9 of Article XII does not apply
to property subject to forfeiture under Section 505 of the Illinois Controlled
Substances Act, Section 12 of the Cannabis Control Act, Section 85 of the Methamphetamine Control and Community Protection Act, or Section 5 of the
Narcotics Profit Forfeiture Act.
(b) This Section applies to actions pending on or commenced on or after the
effective date of this Section.
(Source: P.A. 94-556, eff. 9-11-05.)
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(735 ILCS 5/12-904)
(from Ch. 110, par. 12-904)
Sec. 12-904. Release, waiver or conveyance. No release, waiver or conveyance of the estate so exempted shall be
valid, unless the same is in writing, signed by the individual
and his
or her spouse, if he or she have one, or possession is abandoned or
given pursuant to the conveyance; or if the exception is continued to a
child or children without the order of a court directing a release
thereof; but if a conveyance is made by an individual
as grantor to his
or her spouse, such conveyance shall be effectual to pass the title
expressed therein to be conveyed thereby, whether or not the grantor in
such conveyance is joined therein by his or her spouse.
In any case
where such release, waiver or conveyance is taken by way of
mortgage or security, the same shall only be operative as to such
specific release, waiver or conveyance; and when the same includes
different pieces of land, or the homestead is of greater value than
$15,000, the other lands shall first be sold before resorting to
the
homestead, and in case of the sale of such homestead, if any balance
remains after the payment of the debt and costs, such balance
shall, to the extent of $15,000 be exempt, and be applied upon
such
homestead exemption in the manner provided by law.
(Source: P.A. 94-293, eff. 1-1-06.)
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(735 ILCS 5/12-905) (from Ch. 110, par. 12-905)
Sec. 12-905.
Dissolution of marriage.
In case of a dissolution of marriage,
the court granting the dissolution of marriage may
dispose of the homestead estate according to the equities of the case.
(Source: P.A. 82-280.)
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