{"id":376962,"date":"2016-03-31T21:37:07","date_gmt":"2016-04-01T02:37:07","guid":{"rendered":"https:\/\/ability-fl-prod.internetbrands.com\/ability-law\/state\/virginia-law\/virginia-homestead-laws.html"},"modified":"2026-08-14T15:11:03","modified_gmt":"2026-08-14T20:11:03","slug":"virginia-homestead-laws","status":"publish","type":"page","link":"https:\/\/www.findlaw.com\/state\/virginia-law\/virginia-homestead-laws.html","title":{"rendered":"Virginia Homestead Laws"},"content":{"rendered":"\n
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Virginia Homestead Laws<\/h1>\n\n
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\n By Christie Nicholson, J.D.<\/a> | Legally reviewed by Catherine Hodder, Esq.<\/a>\n | Last updated\n
\n \n <\/i>\n Legally Reviewed\n <\/summary>\n\n
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This article has been written and reviewed for legal accuracy, clarity, and style by FindLaw\u2019s team of legal writers and attorneys<\/a> and in accordance with our editorial standards<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n\n

\n \n <\/i>\n Fact-Checked\n <\/summary>\n\n
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The last updated date refers to the last time this article was reviewed by FindLaw or one of our contributing authors<\/a>. We make every effort to keep our articles updated. For information regarding a specific legal issue affecting you, please contact an attorney in your area<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n<\/section>\n\n\n

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Key Takeaways<\/h2>\n

The Virginia <\/span>homestead exemption<\/span> protects up to $50,000 of home equity<\/span> per individual filer, or $100,000 for married couples<\/span>, from liquidation<\/span> in Chapter 7 bankruptcy<\/span>. This asset protection rule applies specifically to a debtor’s primary residence<\/span>, including single-family houses, townhomes, condominiums, and manufactured mobile homes.<\/p>\n\n <\/div>\n <\/div>\n<\/div>\n\n\n

A common concern for some who file bankruptcy<\/span> in Virginia is the possibility of losing their home. While the trustee in a Chapter 7 <\/span>bankruptcy<\/span> case<\/span> may force a sale of your real property<\/span>, Virginia law<\/span> offers some protection. You have the option of claiming the Virginia <\/span>homestead exemption<\/span> when you file bankruptcy<\/span>. This exemption allows you to protect some or all of the equity in your principal residence<\/span>.<\/p>\n

This article examines and explains Virginia\u2019s homestead laws, including the exemption amount<\/span>, eligibility requirements, and exemption restrictions. It also shows how to claim the exemption. If you\u2019re thinking about filing a Chapter 7 liquidation<\/span> bankruptcy, consider consulting an experienced Virginia bankruptcy<\/span> lawyer<\/a>.<\/p>\n

How Does the Homestead Exemption<\/span> Work?<\/h2>\n

All but two states offer bankruptcy filers a way to protect the equity in their home, and federal laws provide the same type of asset protection in bankruptcy. This protection comes in the form of bankruptcy exemptions<\/span>.<\/p>\n

In general, bankruptcy exemptions<\/span> allow debtors to protect a specific amount of equity in their home, motor vehicle, bank accounts<\/span>, and personal property<\/span>. The courts are strict when it comes to the amount of equity you can protect and who can claim them.<\/p>\n

The homestead exemption<\/span> allows homeowners<\/span> to protect a significant amount of equity in their primary residence<\/span>. As long as you meet the eligibility requirements to claim the homestead exemption<\/span>, you\u2019ll have a chance to keep your home.<\/p>\n

Whether you can depends on how much home equity<\/span> you have. If the exemption covers all your equity, the trustee has no reason to sell your house. Issues arise when your home equity<\/span> exceeds the exemption amount<\/span>. If you have $200,000 equity in your house and the exemption is only $100,000, the bankruptcy trustee may decide to sell your home and use the extra $100,000 equity to pay your secured and unsecured creditors.<\/p>\n

Homestead Exemption<\/span> in the Commonwealth of Virginia<\/span><\/h2>\n

Virginia law<\/span> offers debtors a homestead exemption<\/span> of up to $50,000. Married couples<\/span> can claim up to twice that amount, $100,000. The exemption protects the equity in your home, not the fair market value of your real estate<\/span>. If you have more equity than covered by the Virginia <\/span>exemption<\/span> amount<\/span>, there\u2019s a possibility the trustee may force a sale of the house and use the excess to pay creditors.<\/p>\n

While the exemption amount<\/span> is only $50,000, there are some additional exemptions. These include:<\/p>\n