2013,12


      HOMESTEAD EXEMPTIONS IN VIRGINIA

      Posted on 12,28,2013
      HOMESTEAD EXEMPTIONS IN VIRGINIA

      Under Virginia State law, the homestead exemption allows for homeowners to exempt up to $5,000 of their property or home. The homeowner may also exempt up to $500 for each of their dependents. For elderly individuals over 65 years of age, they are able to exempt up to $10,000.

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      VIRGINIA STATE BANKRUPTCY EXEMPTIONS

      Posted on 12,20,2013
      VIRGINIA STATE BANKRUPTCY EXEMPTIONS

      Every state in the U.S. has their list of items, value of a homestead or vehicles that can be considered exempt during bankruptcy. Under Virginia State laws, they have decided to opt out of all federal exemptions. This means that Virginia residents filing bankruptcy will only receive the exemptions allowed by the state, not on a federal level. Married couples are allowed to double the exemptions allowed by the state, meaning that each spouse individually can claim their full exemption of property.

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