Q: I am in the process of a chapter 7 bankruptcy case and have questions about the homestead deed.
In 2008 I filed a homestead deed to stop a garnishment. I was aware that the homestead deed is a once in a lifetime exemption. However, I wanted to used the unused portion in my current bankruptcy. Because this is a once in a lifetime credit, I didn't think it could be filed again. Since I have already had my meeting of creditors, will I lose this exemption?
A: You can file a second (or more) homestead deed so long as the total of the total of the homestead deeds do not exceed the statutory amount. https://leg1.state.va.us/cgi-bin/legp504.exe?000+cod+34-4. There is a time limit for filing in a bankruptcy, though--it must be filed within 5 days after the meeting of creditors concludes. If the meeting of creditors was continued, it has not been concluded.
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