This is a form of a deed filed to claim exemption on an individual's homestead. Included in the form will be the dollar amount claimed as exempt.
Homestead Deed Virginia Form For Sale
Category:
State:
Virginia
Control #:
VA-LS-006
Format:
Word;
Rich Text
Instant download
Description
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How to fill out Virginia Homestead Deed For Single - Home?
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FAQ
The Homestead Deed must be in proper legal form and should be prepared by a Virginia licensed attorney. Once the Homestead Deed is filed with the Circuit Court for the city or county where the debtor lives, and other needed steps are taken, the property generally is protected from creditors.
The Circuit Court Clerk's Land Records Office (Room 300) processes filing of Homestead Deeds/Exemptions.
If a resident is sixty-five years of age or older, or a married couples files for an exemption together, up to $10,000 may be exempted under the homestead laws. Note that you must file a homestead declaration before filing for bankruptcy, in order to take advantage of Virginia's homestead exemption.
All deeds must be prepared by the owner of the property or by an attorney licensed to practice in Virginia.
General Information. A Homestead Deed prevents creditors from attaching/levying one's personal property and equity in real estate. Normally, such an instrument is filed when an individual is going into bankruptcy or is anticipating a judgment against him/her.