                                 CODE OF VIRGINIA

EXEMPTION CREATED (§ 34-4)

Every householder shall be entitled, in addition to the property or estate
exempt under §§ 23.1-707, 34-26, 34-27, 34-29, and 64.2-311, to hold exempt
from creditor process arising out of a debt, real and personal property, or
either, to be selected by the householder, including money and debts due the
householder not exceeding $5,000 in value or, if the householder is 65 years of
age or older, not exceeding $10,000 in value, and, in addition, real or personal
property used as the principal residence of the householder or the
householder&#8217;s dependents not exceeding $50,000 in value. In addition, upon
a showing that a householder supports dependents, the householder shall be
entitled to hold exempt from creditor process real and personal property, or
either, selected by the householder, including money or monetary obligations or
liabilities due the householder, not exceeding $500 in value for each dependent.
		For the purposes of this section, &#8220;dependent&#8221; means an individual
who derives support primarily from the householder and who does not have assets
sufficient to support himself, but in no case shall an individual be the
dependent of more than one householder.
		On April 1, 2027, and at each three-year interval ending on April 1
thereafter, each monetary limit in effect under this section immediately before
such April 1 shall be adjusted to reflect the change in the Consumer Price Index
for all urban consumers (CPI-U), as published by the Bureau of Labor Statistics
of the U.S. Department of Labor, for the most recent three-year period ending
immediately before January 1 preceding such April 1, and rounded to the nearest
$25, the dollar amount that represents such change. Adjustments made in this
section shall not apply with respect to bankruptcy cases commenced before April
1, 2027.

HISTORY: Code 1919, § 6531; 1918, p. 487; 1975, c. 466; 1977, c. 496; 1978, c.
231; 1990, c. 942; 1997, cc. 785, 861; 2009, c. 387; 2020, c. 328; 2024, c. 656.