(750 ILCS 65/9) (from Ch. 40, par. 1009)
Sec. 9.
Property.
A married person may own in his or her own
right real and personal property obtained by descent, gift, or purchase and
may manage, sell, and convey that property to the same extent and in the
same manner as an unmarried person. When husband and wife live together,
however, no transfer or conveyance of goods and chattels between the
husband and wife shall be valid as against the rights and interests of any
third person unless the transfer or conveyance is in writing and filed in
the same manner as security interests are required to be filed by the laws
of this State in cases where the possession of the property is to remain
with the person giving the security.
(Source: P.A. 87-286.)
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