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.
12-901.Amount.
Article XII. Judgments - Enforcement · Part 9. Exemption of Homestead · Last amended 2026 · Last verified July 20, 2026
In one sentenceSets Illinois's homestead exemption at $50,000 of equity for a single owner, and a combined $100,000 split by ownership share when two or more people own the home.
Full Text of 735 ILCS 5/12-901
Plain-English Summary
This section defines the homestead estate that Illinois shields from creditors. It covers a farm or lot with buildings, a condominium, personal property, or a cooperative interest, as long as the owner occupies it as a residence. That protected interest is exempt from attachment, judgment, levy, and judgment sale for debts, and from the ordinary rules of conveyance, descent, and legacy, except where the Code or the Probate Act says otherwise.
The dollar figures matter: a single owner gets $50,000 of protected equity. When two or more individuals own the property together, the exemption doesn't stack to $50,000 per person — it's a combined $100,000, divided among the owners in proportion to their ownership share.
The exemption doesn't apply between joint tenants or tenants in common as against each other — one co-owner can't use it to block another co-owner's claim to the property — but it does apply against the creditors of those co-owners. The current dollar amounts took effect January 1, 2026, under Public Act 104-120.
Frequently Asked Questions
How much is the Illinois homestead exemption?
$50,000 of equity for a single owner. When two or more individuals own the property, the exemption is a combined $100,000, split among them according to their ownership share.
What kinds of property qualify for the homestead exemption?
A farm or lot with buildings, a condominium, personal property, or a cooperative interest, as long as the owner occupies it as a residence.
Does the homestead exemption protect against every debt?
No. Other sections in this Part carve out exceptions, including unpaid taxes or assessments, purchase-money or improvement debts, certain condominium liens, and eviction orders.
Does the exemption apply between co-owners themselves?
No. It doesn't apply between joint tenants or tenants in common as against each other, but it does apply against the creditors of those co-owners.
When did the current $50,000 and $100,000 amounts take effect?
January 1, 2026, under Public Act 104-120.
Amendment History
(Source: P.A. 104-120, eff. 1-1-26.)
Source & verification. Section text and amendment history are
reproduced verbatim from the Illinois Compiled Statutes, published by the
Illinois Compiled Statutes, Illinois General Assembly / Legislative Reference Bureau. Last verified July 20, 2026.
· Official source
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