§ 50068.5
68 words·~1 min read·
/ca/health-and-safety-code/50068-5A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
“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.