Legal Opinion
In re: Randolph Neil Chapman and Sheryl E. Chapman, Debtors.
United States Bankruptcy Court, C.D. Illinois
Decided March 11, 2026No. 25-80843Unknown
1Opinion
SIGNED THIS: March 11, 2026 Peter W. Henderson Chief United States Bankruptcy Judge UNITED STATES BANKRUPTCY COURT CENTRAL DISTRICT OF ILLINOIS In re: RANDOLPH NEIL CHAPMAN Case No. 25-80843 and SHERYL E. CHAPMAN, Debtors. OPINION Everyone in Illinois is entitled to an estate of homestead in their residence up to a certain value (until recently, $15,000). 735 ILCS 5/12-901. The homestead estate is broadly exempt from liability for debts. Id. When the homestead is sold, the proceeds of the estate are also exempt for one year. 735 ILCS 5/12-906. And if the proceeds are reinvested in anew…
2Cases cited35 opinions
- Law v. SiegelSupreme Court of the United States · 2014
- Owen v. OwenSupreme Court of the United States · 1991
- In the Matter of Robert John Love, Debtor-AppellantCourt of Appeals for the Seventh Circuit · 1992
- White v. StumpSupreme Court of the United States · 1924
- In the Matter of Kenneth W. Smith, Debtor. Appeal of State of IndianaCourt of Appeals for the Seventh Circuit · 1988
30 more not listed; retrieve them via the Exa API.