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Attention: All 94-bankruptcy districts charge the same filing fees. Chapter 7: $306 Chapter 13: $281 |
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VIRGINIA EXEMPTION LISTHow to use this table of exemptions, by Attorney Thomas A. Prediletto. The following is a summary of the Virginia exemptions that can be claimed (used) to exempt both your real and personal property in a bankruptcy petition. However, if your residence has not been continuously in the state of Virginia for the two years prior to filing a bankruptcy petition, there are laws that apply as to which state or federal exemptions may be used. Exempt property of a debtor is property of the debtor that is not available to be used (sold) to pay his/her unsecured creditors and is not subject to the claims of unsecured creditors, but may be subject to the rights of secured creditors and lien holders. When reviewing the list for exemptions for your own property you should be aware that there may not be a “matching” exemption. Some state exemptions contain a “wildcard” which can be used if a matching exemption cannot be found in the list of exemptions. Also, an individual must own an interest in the property to claim the property as exempt. The debtor may exempt the equity (value of property less the total amount owed against it) however; any equity value in the property above the exemption amount may be subject to the claims of unsecured creditors. By way of example, if you own a home worth $250,000 and owe a total of $200,000 against it (combining all mortgage/home equity lines of credit and/or liens against the property) the amount of equity you would need to protect is $50,000. So long as the homestead exemption is more than $50,000 the full amount of the equity is exempt and not subject to the claims of your unsecured creditors. In the alternative, say the home is worth $250,000 and you only owe $100,000 against it, anything over the exemption amount is subject to the claims of the unsecured creditors. The same type example would apply to a motor vehicle, though the exemption for a motor vehicle is less than the amount of the exemption for a home. Please note that all of the exemptions may be doubled if a married couple is filing, with the exception of the homestead exemption. To view Virginia exemption list and amounts available, click here or scroll down the page. To view Virginia Codes, visit Justia US Laws - Virginia Code. |
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| Description | LAW |
Max Individual Amount |
Max Joint Amount |
| Animals Owned As Pets | CV § 34-26(5) | UNLIMITED | |
| Benefits Under Local Retirement Systems | CV §15.2-1510 | UNLIMITED | |
| Burial Contracts | CV § 54.1-2823 | UNLIMITED | |
| Burial Plot | CV § 34-26(3) | UNLIMITED | |
| Burial Society Benefits | CV § 38.2-4021 | UNLIMITED | |
| Condominium Sale Escrow Funds | CV § 55-79.95 | UNLIMITED | |
| Crime Victims Reparation Awards | CV § 19.2-368.12 | UNLIMITED | |
| Disposable Earnings | CV § 34-29 | UNLIMITED | |
| Earnings - Court Approved Assignment | CV § 55-165 | UNLIMITED | |
| Escrow Funds Held by Continuing Care Provider | CV § 38.2-4904.1 | UNLIMITED | |
| Family Bible | CV § 34-26(1) | UNLIMITED | |
| Family Portraits & Heirlooms | CV § 34-26(2) | $5,000.00 | $10,000.00 |
| Farm Animals and Equipment | CV § 34-27 | $4,000.00 | $8,000.00 |
| Fraternal Benefit Society Benefits | CV § 38.2-4118 | UNLIMITED | |
| Growing Crops | CV § 8.01-489 | UNLIMITED | |
| Health Aids | CV § 34-26(6) | UNLIMITED | |
| Homestead - Householder 65 and Over | CV § 34-4 | $15,000.00 | $30,000.00 |
| Homestead - Surviving Spouse/Minor Children | CV § 64.1-151.3 | $15,000.00 | $15,000.00 |
| Homestead (any real or pers. prop.; $500 add. exempt per dep) | CV 34-4, 34-13 | $5,000.00 | $10,000.00 |
| Household Furnishings | CV § 34-26(4a) | $5,000.00 | $10,000.00 |
| Insurance Benefits - Industrial Sick | CV § 38.2-3549 | UNLIMITED | |
| Insurance Payments - Accident, Sickness | CV § 38.2-3406 | UNLIMITED | |
| Life Benefit Company Benefits | CV § 38.2-3811 | UNLIMITED | |
| Life Insurance - Certain Policies | CV § 38.2-3118 | UNLIMITED | |
| Life Insurance - Group | CV § 38.2-3339, 51.1-510 | UNLIMITED | |
| Life Insurance Proceeds | CV § 38.2-3122 | UNLIMITED | |
| Military Equipment | CV § 44-96 | UNLIMITED | |
| Motor Vehicle | CV § 34-26(8) | $2,000.00 | $4,000.00 |
| One Fire Arm | VC § 34-26(4b) | $3,000.00 | $6,000.00 |
| Optional Supplemental Health Insurance Credit Account | CV § 51.1-1404 | UNLIMITED | |
| Personal Injury/Wrongful Death Proceeds | CV § 34-28.1 | UNLIMITED | |
| Preneed Funeral Contract | CV § 34-26(3) | $5,000.00 | $10,000.00 |
| Prepaid Tuition Contract Funds | CV § 23-38.81 | UNLIMITED | |
| Public Assistance | CV § 63.2-506 | UNLIMITED | |
| Real & Personal Property - Disabled Veteran | CV § 34-4.1 | $2,000.00 | $4,000.00 |
| Real and/or Personal Property | CV § 34-4 | $5,000.00 | $10,000.00 |
| Real and/or Personal Property per dependent | CV § 34-4 | $1,000.00 | $1,000.00 |
| Rents & Profits Of Exempt Property | CV § 34-18 | UNLIMITED | |
| Retirement Benefits - County, City, Town | CV § 51.1-802 | UNLIMITED | |
| Retirement Benefits - Supplemental (State Employees) | CV § 51.1-124.4 | UNLIMITED | |
| Retirement Plan | CV § 34-34 | UNLIMITED | |
| Tobacco Indem. and Comm. Revital. fund payments | CV § 3.1-1111.1 | UNLIMITED | |
| Tools Of Trade - Books, Equipment | CV § 34-26(7) | $10,000.00 | $20,000.00 |
| Unemployment Compensation Benefits | CV § 60.2-600 | UNLIMITED | |
| Unused Homestead | CV § 34-13 | $5,000.00 | $10,000.00 |
| Veteran's benefits | CV § 34-4.1 | $2,000.00 | $4,000.00 |
| Wearing Apparel | CV § 34-26(4) | $1,000.00 | $2,000.00 |
| Wedding & Engagement Rings | CV § 34-26(1a) | UNLIMITED | |
| Workmen's Compensation Benefits | CV § 65.2-531 | UNLIMITED |
