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92_SB1234ham002
LRB9202848DJgcam03
1 AMENDMENT TO SENATE BILL 1234
2 AMENDMENT NO. . Amend Senate Bill 1234, AS AMENDED,
3 by replacing everything after the enacting clause with the
4 following:
5 "Section 5. The Code of Civil Procedure is amended by
6 changing Section 12-901 as follows:
7 (735 ILCS 5/12-901) (from Ch. 110, par. 12-901)
8 Sec. 12-901. Amount. Every individual is entitled to an
9 estate of homestead to the extent in value of $50,000 $7,500
10 of his or her interest in a farm or lot of land and buildings
11 thereon, a condominium, or personal property, owned or
12 rightly possessed by lease or otherwise and occupied by him
13 or her as a residence, or in a cooperative that owns property
14 that the individual uses as a residence. That homestead and
15 all right in and title to that homestead is exempt from
16 attachment, judgment, levy, or judgment sale for the payment
17 of his or her debts or other purposes and from the laws of
18 conveyance, descent, and legacy, except as provided in this
19 Code or in Section 20-6 of the Probate Act of 1975. This
20 Section is not applicable between joint tenants or tenants in
21 common but it is applicable as to any creditors of those
22 persons.
-2- LRB9202848DJgcam03
1 If 2 or more individuals own property that is exempt as a
2 homestead, the value of the exemption of each individual may
3 not exceed his or her proportionate share of $100,000 $15,000
4 based upon percentage of ownership.
5 (Source: P.A. 88-672, eff. 12-14-94.)
6 Section 99. Effective date. This Act takes effect upon
7 becoming law.".