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Virginia Homestead Laws

Homestead protection laws are intended to prevent people from being kicked out of their homes in the event of a drastic change in economic stature. State homestead laws allow property owners to delcare a portion of their real estate as a "homestead," and therefore protected from creditors. Virginia homestead laws allow residents to designate up to $5,000 worth of real estate as a homestead, plus $500 for each dependent.

General information about Virginia homestead laws is listed below. See Bankruptcy Exemptions: Chapter 7 to learn more about homestead protections and other exemptions.

Code Section 34-4
Max. Property Value That May Be Designated 'Homestead' $5,000 plus if support dependent, then $500 for each dependent
Maximum Acreage (Urban) -
Maximum Acreage (Rural) -

Note: State laws are constantly changing -- contact a Virginia real estate attorney or conduct your own legal research to verify the state law(s) you are researching.

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