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Illinois Compiled Statutes

735 ILCS 5/12-901 (2026)

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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 $50,000 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 $100,000 based upon percentage of ownership.
(Source: P.A. 104-120, eff. 1-1-26.)

    
Notes of Decisions
Cited in 40 cases (3 in the last 5 years), 1993–2025 · leading case: In Re Allard, 196 B.R. 402 (Bankr. N.D. Ill. 1996).
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In Re Allard, 196 B.R. 402 (Bankr. N.D. Ill. 1996). · cites it 3× “00 under 735 ILCS 5/12-901, and that the amount of $120,-000 was exempt under the tenancy by the entireties provision of 750 ILCS 65/22.”
In the Matter of Daniel J. YONIKUS & Carolyn S. Yonikus, Debtors. Appeal of Daniel J. YONIKUS, 996 F.2d 866 (7th Cir. 1993). “” The debtor’s position is in error, however, for this issue has been the frequent subject of litigation.”
In Re Tolson, 338 B.R. 359 (Bankr. C.D. Ill. 2005). · cites it 2× “” 1 Neither the Chapter 7 Trustee nor any creditor objected to the initial claim of exemption under 735 ILCS 5/12-901 or the second amended claim of exemption under 735 ILCS 5/12-112.”
Kauffman v. Wrenn, 2015 IL App (2d) 150285 (Ill. App. Ct. 2016). “Moreover, as stated, while an IOLTA account is designed to hold client funds, it may also contain funds belonging in part to the lawyer or law firm. Ill. R.”
In Re Moneer, 188 B.R. 25 (Bankr. N.D. Ill. 1995). · cites it 3× “On his Schedule C — Property Claimed as Exempt, the Debtor claimed a homestead exemption pursuant to 735 ILCS 5/12-901 in the amount of $7,500.”
Maher v. Harris Trust & Sav. Bank, 506 F.3d 560 (7th Cir. 2007). · cites it 2× “See 735 ILCS 5/12-901 (“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 occupied…”
GMAC Mortg., LLC v. Arrigo, 2014 IL App (2d) 130938 (Ill. App. Ct. 2014). · cites it 4× “The trial court denied the motion, but certified the following question pursuant to Rule 308: “Whether a spouse may claim her homestead exemption when that spouse is not on title to the property but is the spouse of the title holder and maintains the property as her primary…”
In Re Mukhi, 246 B.R. 859 (Bankr. N.D. Ill. 2000). · cites it 3× “This exemption was claimed under 735 ILCS 5/12-901 and 735 ILCS 5/12-112. Debtor also argues that Sheikh’s objection to the claimed exemp *861 tion was untimely, and therefore the exemption is not contestable.”
Wells Fargo Bank Minnesota, NA v. Envirobusiness, Inc., 2014 IL App (1st) 133575 (Ill. App. Ct. 2014). · cites it 2× “¶8 In reply, Wells Fargo argued that only three statutory exemptions from turnover existed: the homestead exemption (735 ILCS 5/12-901 et seq. (West 2012)), exemptions for certain personal property (735 ILCS 5/12-1001 (West 2012)), and the retirement plan exemption (735 ILCS…”
In Re Ross, 210 B.R. 320 (Bankr. N.D. Ill. 1997). · cites it 2× “It presents an issue of first impression about the propriety of a claim of homestead exemption under Illinois law, 735 ILCS 5/12-901, in a 1980 Chris Craft Boat (the “Boat”).”
In Re Owens, 269 B.R. 794 (Bankr. N.D. Ill. 2001). · cites it 2× “On her Schedule C-Property Claimed as Exempt, the Debtor claimed a homestead exemption pursuant to 735 ILCS 5/12-901 in the amount of $7,500.”
In Re Walston, 190 B.R. 855 (Bankr. S.D. Ill. 1996). · cites it 2× “” In her bankruptcy schedules, the debtor claimed her individual homestead exemption pursuant to 735 ILCS 5/12-901 and also claimed her deceased husband’s homestead exemption pursuant to 735 ILCS 5/12-902.”
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