§ 64.1-151.3. Homestead allowance
In addition to the right to family allowance and exempt property, a surviving spouse of a decedent who was domiciled in this Commonwealth is entitled to a homestead allowance of $15,000. If there is no surviving spouse, each minor child of the decedent is entitled to a homestead allowance amounting to $15,000, divided by the number of minor children of the decedent. The homestead allowance has priority over all claims against the estate, but not over the right to family allowance and exempt property.
The homestead allowance is in lieu of any share passing to the surviving spouse or minor children by the will of the decedent or by intestate succession; provided, however, if the amount passing to the surviving spouse and minor children by the will of the decedent or by intestate succession is less than $15,000, then the surviving spouse or minor children shall be entitled to a homestead allowance in an amount which, when added to the property passing to the surviving spouse and minor children by the will of the decedent or by intestate succession, will equal the sum of $15,000.
If the surviving spouse claims and receives an elective share of the decedent's estate under §§ 64.1-13 through 64.1-16, the surviving spouse shall not have the benefit of any homestead allowance.
(1981, c. 580; 1990, c. 831; 2001, c. 368.)
Sections: Previous 64.1-147 64.1-148 64.1-149 64.1-150 64.1-151 64.1-151.1 64.1-151.2 64.1-151.3 64.1-151.4 64.1-151.5 64.1-151.6 64.1-152 64.1-153 64.1-154 64.1-155 NextLast modified: April 16, 2009