§201H-162 Qualifications for downpayment loans. (a) No person shall be qualified for a downpayment loan unless the person:
(b) No person who owns in fee simple or in leasehold any other residential property within the State shall be eligible to become a borrower under this section. A person shall be deemed to own a residential property if the person, the person's spouse, or both (unless separated and living apart under a decree of a court of competent jurisdiction) own a majority interest in a residential property. [L 2006, c 180, pt of §4; am L 2017, c 123, §5]