Qualified buyer: A taxpayer who purchases a single-family residence, whether detached or attached, that has never been occupied, that is purchased to be the principal residence of the taxpayer for a minimum of two years, and that is eligible for the homeowner’s exemption under California Revenue and Taxation Code Section 218. Qualified Principal Residence/New Home: ( Updated ) A qualified principal residence means a single-family residence, whether detached or attached, that has never been occupied and is purchased to be the principal residence of the taxpayer for a minimum of two years and is eligible for the property tax homeowner’s exemption.
26
Feb
2009
Property Lists: Foreclosed, Bank-Owned and Auction
PRE-FORECLOSURE: This refers to the period after the lender has filed the original complaint and filed a lis pendens on the property indicating the intent to foreclose. … FORECLOSURE is the legal process in which a bank or lender sells or repossesses a parcel of real property after the owner has failed to comply with an agreement between the lender and borrower.
