Illinois Homestead Declaration following Decree of Legal Separation or Divorce

State:
Multi-State
Control #:
US-02099BG
Format:
Word; 
Rich Text
Instant download

Description

Ordinarily, the declaration must show that the claimant is the head of a family. In general, the claimant's right to select a homestead and to exempt it from forced sale must appear on the face of the declaration, and its omission cannot be supplied by extraneous evidence. Under some statutes, a declaration of homestead may be made by the owner or by his or her spouse.


This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.

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FAQ

Illinois is an equitable division state, so marital property does not have to be split evenly. Marital property is property owned by both parties. This type of property is split during the property division phase of a divorce.

To qualify for the Illinois homestead exemption, you must live in the state for at least 730 days. If you haven't lived in the state for at least this long, you will be required to use the exemptions from the state where you previously lived.

Non-marital property (or separate property) is property owned by only one party, not both. This means it is not divided in the property division process and not considered under equitable division. This includes assets gained before the marriage, as a gift, or from an inheritance.

How long do you have to be married to get half of everything? The length of a marriage is an important factor in determining property division, but there is no set length that decides how much you get.

Illinois is an equitable split state. An equitable split means that your property in a divorce should be divided equitably, but that doesn't necessarily mean equally. For example, equitable splits could mean 60/40 or 70/30. This depends on the individual facts and circumstances of each case.

No, Illinois is not a community property state. Instead, it's an equitable property state, which means that property is divided based on what the court considers fair and just, taking into account factors like each spouse's income, earning potential, and contributions to the marriage.

Illinois law does not require you to be separated before you can file for divorce. Many people think that a six month separation is required before they can file for divorce. This wasn't true under the old law, and it isn't true under the current law.

What happens if you are married and the house is not in your name in Illinois? Even if the marital home is not in your name, it will still likely be considered marital property. It depends on the circumstances, but if both parties put money and effort into the house, they both deserve some of what it's worth.

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Illinois Homestead Declaration following Decree of Legal Separation or Divorce