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WV HB4340

WV HB4340
Relating to exemptions of property in bankruptcy proceedings


summary

Introduced
01/15/2026
In Committee
01/15/2026
Crossed Over
Passed
Dead

Introduced Session

2026 Regular Session

Bill Summary

The purpose of this bill is to provide for a surviving spouse to be able to claim the deceased spouse's homestead exemption so long as the home they owned together is owned by the surviving spouse.

AI Summary

This bill amends West Virginia law regarding property exemptions in bankruptcy proceedings, which are legal processes for individuals unable to pay their debts. Specifically, it adds a provision allowing a surviving spouse to claim the full value of their primary residence as exempt property in a bankruptcy case, even if the deceased spouse was a joint owner or tenant in common of that residence. This ensures that the surviving spouse can retain their home, regardless of the deceased spouse's interest, provided it was their shared primary residence.

Committee Categories

Budget and Finance

Sponsors (1)

Last Action

To House Finance (on 01/15/2026)

bill text


bill summary

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