### Question
How is the term first-time homebuyer defined?


### Answer
The term **first-time homebuyer** is defined in *26 U.S.C. § 36* as the following:

> any individual if such individual (and if married, such individual's spouse) had no present ownership interest in a principal residence during the 3-year period ending on the date of the purchase of the principal residence to which this section applies

#### Citation:
  - *26 U.S.C. § 36*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter A-Determination of Tax Liability > PART IV-CREDITS AGAINST TAX > Subpart C-Refundable Credits**

