Property Ownership
Virginia's homestead exemption allows a homeowner to exempt how much equity from unsecured creditors?
A$2,500
B$5,000✓ Correct
C$10,000
D$25,000
Explanation
Virginia's homestead exemption allows a debtor to exempt up to $5,000 of equity in a primary residence from unsecured creditors. This amount increases by $500 for each dependent.
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