Illinois Statutes
§ 29B-17 — Exception for bona fide purchasers
Illinois·Topic RIGHTS AND REMEDIES·Ch. 720 CRIMINAL OFFENSES·Act 720 ILCS 5/ Criminal Code of 2012.·Art. Title III - Specific Offenses
No property shall be forfeited under this Article from a person who, without actual or constructive notice that the property was the subject of forfeiture proceedings, obtained possession of the property as a bona fide purchaser for value. A person who purports to effect transfer of property after receiving actual or constructive notice that the property is subject to seizure or forfeiture is guilty of contempt of court and shall be liable to the State for a penalty in the amount of the fair market value of the property.
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Illinois § 29B-17 (Exception for bona fide purchasers) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
(Source: P.A. 100-699, eff. 8-3-18; 100-1163, eff. 12-20-18.)
Nearby Sections
15
§ 29B-0.5
Definitions§ 29B-1
Money laundering§ 29B-11
Replevin prohibited§ 29B-12
Non-judicial forfeiture§ 29B-13
Judicial in rem procedures§ 29B-14
Innocent owner hearing§ 29B-18
Proportionality§ 29B-19
Stay of time periods§ 29B-20
Settlement of claims§ 29B-21
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