Legal Question in Credit and Debt Law in Virginia
Homested Deed/ Declaration
I know that in the next few months I am going to have a lawfirm come after me for money owed to a client of theirs. I would rather die than have to pay this crook money. My question is, my husband's name and my name is on our house though the loan is in my husbands name. Two years ago my husband filed bankruptcy due to his ex-wife running up massive debts and I believe he took a homestead exemption. Would that disqualify me from taking a homestead exemption considering I was not involved with his bankrupty at all. If I can take a homestead exemption so they cant put a lien on my house, how do I go about doing it? Do I just go to the court house and ask to file one?
1 Answer from Attorneys
Re: Homested Deed/ Declaration
If you hold title jointly with your husband as tenants by the entireties
and your husband is not a party to the debt at issue, your marital home will be essentially immune from creditor action against you, and there would be no need for you to seek to file a homestead exemption.(You must, however, jointly hold title to the property with your husband in the manner which I've described.)
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