"An individual who has had no ownership in a principal residence during the 3-year period ending on the date of purchase of the property. This includes a spouse (if either meets the above test, they are considered first-time homebuyers."
My situation is, a few years back my parents put my name on the title of their house, however I've never contributed a penny to the mortgage nor was involved in the original purchase of the house. I know that this alone will dis-qualify me for the first time home buyer credit, however the rules states that
"An individual who has had no ownership in a [b:d2f2612dbd][u:d2f2612dbd]principal residence during the 3-year[/u:d2f2612dbd][/b:d2f2612dbd] period ending on the date of purchase of the property."
Principal resident meaning that I would have to be living there and consider it as my primary home. The house has been a rental property for the past 6-7 years and I have not lived there since than. The address on my driver license for the past 6-7 years has been for a different address of which I have no affiliation with the mortgage. Am I mis-interpreting the law or is there a glimpse chance I may qualify for this credit? Please advice and thank you in advance for the help.