Illinois Compiled Statutes 765 ILCS 1075/15 – Transferability, descendability, and divisibility
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Terms Used In Illinois Compiled Statutes 765 ILCS 1075/15
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- individual: shall include every infant member of the species homo sapiens who is born alive at any stage of development. See Illinois Compiled Statutes 5 ILCS 70/1.36
- Intestate: Dying without leaving a will.
- Wills: includes codicils. See Illinois Compiled Statutes 5 ILCS 70/1.13
The rights under this Act are property rights that are freely transferable in whole or in part to any person either by written transfer, including but not limited to wills and trusts, or by intestate succession only to an individual‘s spouse, parents, children, and grandchildren, except that the rights under this Act are not subject to levy or attachment and may not be the subject of a security interest. Nothing in this Section limits the ability of any party to levy, attach, or obtain a security interest in the proceeds of the rights under this Act or the proceeds of the exercise of those rights.
