Virginia’s homestead exemption isn’t limited to real estate. The same law that lets a householder protect a home from creditors also lets you protect a dollar amount of personal property — money, a vehicle, bank funds, or other belongings you choose — under Va. Code Section 34-4. This is often called the personal property exemption, and it’s a different, broader tool than the poor debtor’s exemption, which protects specific enumerated items regardless of this dollar category.
How Much Personal Property Can You Protect?
Under Va. Code Section 34-4, every householder may claim as exempt from creditor process:
- $5,000 in money, debts, or other real or personal property you select — or $10,000 if you are 65 or older.
- $500 for each dependent you support, in addition to the amount above.
- Up to $50,000 in real or personal property used as your principal residence (this portion can only be applied to your home or its proceeds, not other property).
These figures are current as of July 2026 and will be adjusted for inflation starting April 1, 2027, and every three years after that, based on the Consumer Price Index.
You Choose What Counts
Unlike the poor debtor’s exemption, which lists specific categories of property (a vehicle, tools of your trade, household furnishings, and so on), the personal property exemption under Section 34-4 lets you select which money, funds, or property to protect, up to the dollar limits above. If you don’t use your full homestead allowance on real estate, Va. Code Section 34-13 lets you apply the unused portion — or all of it — to personal property instead, such as funds in a bank account a creditor is trying to garnish.
How to Claim It
Selecting personal property as exempt isn’t automatic. Under Va. Code Section 34-14, you have to set the property apart in a signed writing that describes each item or amount and its value, and that writing has to be recorded with the circuit court clerk in the county or city where you live. (If you’re claiming the exemption in a bankruptcy case, your Schedule of Property Claimed as Exempt filed with the bankruptcy court takes the place of a recorded deed.) This is the same “homestead deed” process used to protect real estate — see our page on what a legally sufficient homestead deed has to include.
Personal Property Exemption vs. Poor Debtor’s Exemption
These two exemptions work together but aren’t the same:
- The personal property exemption (Section 34-4) is a dollar amount you apply to property you choose, and it must be claimed through a recorded homestead deed.
- The poor debtor’s exemption (Section 34-26) protects specific enumerated items — a vehicle up to $10,000, tools of your trade up to $10,000, household furnishings up to $5,000, and more — without needing to be listed on a deed, and it applies in addition to your Section 34-4 amount.
See the full list on our poor debtor’s exemption page.
Timing Matters
If a creditor has garnished your wages or frozen your bank account, when you file matters as much as what you claim. See when to file your homestead deed for the deadlines that apply to wage garnishments versus bank levies.
Protect What the Law Allows
A properly prepared Virginia homestead deed lets you claim your full personal property exemption, prepared to meet Virginia’s format and content requirements before it’s filed.
Frequently Asked Questions
Can I protect more than $5,000 in personal property?
Yes — if you’re 65 or older the base amount is $10,000, you get an additional $500 per dependent, and up to $50,000 can apply to property used as your principal residence.
Do I lose the personal property exemption if I already used my homestead exemption on my house?
The $50,000 principal-residence portion can only be used for your home. But the $5,000/$10,000 base amount and per-dependent amounts are separate and can still be applied to personal property even if you’ve claimed the residence portion.
Sources: Code of Virginia Sections 34-4, 34-13, and 34-14, law.lis.virginia.gov, verified current as of July 9, 2026. This page provides general information and is not legal advice.