Virginia Homestead Exemption Forms & Declarations

A compilation of the Revised Civil Statutes of the State of Virginia (a.k.a. Homestead Exemption Act) establish a maximum of $5,000 per individual, plus $500 per dependent, as the upper limit of exempt homestead equity in a primary residence. A dependent is anyone who is financially supported while living in the same household, and needs financial assistance for necessities.

In addition, the Virginia homestead exemption law permits the inclusion of home improvements, equipment, outbuildings, and other fixtures to become an indivisible part of a primary residence, so long as improvements are permanently attached to land. As an option, although not required for enforceability, residents may file a formal declaration prepared by an attorney or the standard Virginia homestead exemption form to expressly designate real estate covered by the exemption. The declaration must be filed for record with the County Clerk, for inclusion within the real property records of the county in which a home is located. Filing will assist Virginia bankruptcy lawyers if a debtor chooses to file bankruptcy in Virginia.