Obviously this bill was passed just a few days ago but I'm already getting calls on it. My question is in regard to one client with a special situation so I'm hoping someone might know the answer. Apparently you can't claim the credit if you've owned a home in the last 3 years. My client was a single female who owned a townhouse for the last several years, however she just recently got married to a man who has never owned a home. They are both planning on buying a house in the next month or so but don't know if they can claim the credit or part of it. Anyone know? Thanks!

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>>she just recently got married to a man who has never owned a home<<

The new law says, "The term "first-time homebuyer" means 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."

In other words, for purposes of this credit neither your client nor her husband qualifies as a first-time homebuyer.

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