Virginia Code 34-28: Deed of trust, etc., on such property void
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Every deed of trust, mortgage or other writing or pledge made by a householder to give a lien on property exempt from distress or levy under § 34-26 shall be void as to such property. However, this section shall have no application to (i) property covered by a deed of trust, mortgage or other writing or pledge given by a householder to secure a loan made for the purchase of such property or (ii) security interests in such property having priority over the claim of exemption as specifically provided in subdivisions 7 and 8 of § 34-26.
Terms Used In Virginia Code 34-28
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Exempt: means protected from all forms of creditor process. See Virginia Code 34-1
- Exemption: means protection from all forms of creditor process. See Virginia Code 34-1
- Householder: means any resident of Virginia. See Virginia Code 34-1
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
Code 1919, § 6564; 1938, p. 218; 1940, p. 615; 1992, c. 644; 2002, c. 88.