64.1-151.3 - Homestead allowance. - Virginia Statutes

§ 64.1-151.3. Homestead allowance.

In addition to the right to family allowance and exempt property, a survivingspouse of a decedent who was domiciled in this Commonwealth is entitled to ahomestead allowance of $15,000. If there is no surviving spouse, each minorchild of the decedent is entitled to a homestead allowance amounting to$15,000, divided by the number of minor children of the decedent. Thehomestead allowance has priority over all claims against the estate, but notover the right to family allowance and exempt property.

The homestead allowance is in lieu of any share passing to the survivingspouse or minor children by the will of the decedent or by intestatesuccession; provided, however, if the amount passing to the surviving spouseand minor children by the will of the decedent or by intestate succession isless than $15,000, then the surviving spouse or minor children shall beentitled to a homestead allowance in an amount which, when added to theproperty passing to the surviving spouse and minor children by the will ofthe decedent or by intestate succession, will equal the sum of $15,000.

If the surviving spouse claims and receives an elective share of thedecedent's estate under §§ 64.1-13 through 64.1-16, the surviving spouseshall not have the benefit of any homestead allowance.

(1981, c. 580; 1990, c. 831; 2001, c. 368.)