Homestead Exemptions


WHAT IS THE VIRGINIA HOMESTEAD EXEMPTION?

Posted on 06 01,2014
WHAT IS THE VIRGINIA HOMESTEAD EXEMPTION?

Are you a Virginia homeowner who is planning on filing for bankruptcy? Are you worried about protecting your home and the equity in it? Each state has a variety of bankruptcy exemptions which can be used to help individuals protect certain assets and property during bankruptcy. One of the exemptions our state offers is the homestead exemption.

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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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