Oppenheimer v. Howell

Citations

• 76 Va. 218
• 1882 Va. LEXIS 22

Syllabus

<p>1. Homestead.—Primary object of Code 1873, ch. 183, § 7, is to authorize sale of homestead and investment of proceeds in a new one, to be held on like terms as the original. In it there is nothing to authorize debtor, who has squandered one homestead, to appropriate another against subsequent creditors.</p> <p>2. Idem—Supplemental*—Debtor may supplement original homestead by new one, so as to make the aggregate equal (not exceed) the maximum of $2,000.</p> <p>•3. Idem.—TMs privilege, once fully exercised, is regarded as exhausted.</p> <p>4. Idem.—New homestead created, determines the original one, if the property exempted under the latter remains in existence. At all events, debtor will be required to account for its value in ascertaining the amount he is entitled to under a new assignment.</p> <p>5. Estoppel.—If he has squandered, or does not account for, the property set apart for his original homestead, he cannot found a claim to a new one by attacking validity of the deed of his own making, which created the original.</p> <p>6. Case here.—H, whilst residing in L in 1874, by deed recorded, declared his intention to hold exempt as his homestead personal property to the amount of $1,468. Having removed to B and become indebted, he creates in 1878 a new homestead of property valued at 61,844.50, by recorded deed, wherein he assails the validity of his original homestead deed, without accounting for the amount thereof, thereby seeking to hold exempt from his creditors an aggregate of $3,312.50 worth of property, and obtained an injunction to restrain sale under executions levied. Creditors moved to dissolve, but the circuit court perpetuated the injunction.</p> <p>Held :</p> <p>1. Debtor must be charged with $1,468, the value of the property set apart as exempt by the original homestead of 1874.</p> <p>2. And he is entitled to enough of the property levied on to make the aggregate of his exemptions equal the maximum of $2,000; and no more.</p>