Property Ownership
Virginia's homestead exemption protects how much of a homeowner's equity from creditors in bankruptcy?
A$2,500
B$5,000✓ Correct
C$10,000
D$25,000
Explanation
Virginia's homestead exemption (Code § 34-4) allows homeowners to exempt up to $5,000 of equity in their principal residence from creditors' claims.
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