West Virginia Code 38-9-4 – Proceedings to reach excess value of homestead
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Any creditor of the person owning such homestead may assert a claim in a civil action, alleging that the value of the homestead is of greater value than $5,000, and if the court shall be satisfied, from the proofs in the cause, that the allegations are true, it shall make such order or decree as may be necessary to subject such excess of value, above the sum of $5,000, to the payment of the debt, or demand of such creditor. If more than one creditor shall join in such judicial proceeding, and their debts or claims be of equal priority, such excess shall be paid pro rata upon the debt or claim of each.
Terms Used In West Virginia Code 38-9-4
- Homestead: means property owned and used as the principal home for the debtor, his spouse or a dependent, or any or all of them, whether classified as real property, chattel real, a fixture or personal property. See West Virginia Code 38-9-2