Can a Judgment Creditor Pursue the Equity in Your Home
My question involves judgment recovery in the State of:VA
I was charged with embezzling from my employer in the State of VA. I imagine that my employer will file a civil suit to get her money. Can she take my home if it has equity or force a sale of it even if the court orders restitution?
Re: In Va Can They Take My Home if It Has Equity in It
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barneyf
My question involves judgment recovery in the State of:VA
I was charged with embezzling from my employer in the State of VA. I imagine that my employer will file a civil suit to get her money. Can she take my home if it has equity or force a sale of it even if the court orders restitution?
Theoretically, yes.
The reality is that it's an expensive process, lots of attorney fees, court fees, sale costs, real estate commissions and she would have to pay off the loan AND give you back the exempt portion of your equity before she would see a nickel.
The VA homestead exemption is $5,000 plus $500 per dependent (if over 65 exemption is $10,000).
(Man, you're living in the wrong state to get sued in).