§ 50068.5. — 50068.5. (Added by Stats. 1982, Ch. 320, Sec. 4.)

California § 50068.5.

• Jurisdiction: California
• Code HSC: Health and Safety Code - HSC
• Div. 31.: DIVISION 31. HOUSING AND HOME FINANCE
• Part 1.: PART 1. STATE HOUSING POLICY AND GENERAL PROVISIONS
• Ch. 2.: CHAPTER 2. Definitions

Text

“First-time home buyer” means a person who is a purchaser of an owner-occupied housing unit and who neither has, nor has had, a present ownership in a principal residence at any time during the three-year period prior to the date on which the mortgage pursuant to this division is executed, except that this limitation shall not apply to a purchaser of a principal residence in a targeted area.

Legislative History

Added by Stats. 1982, Ch. 320, Sec. 4. Effective June 29, 1982.