(a) The Virgin Islands Housing Finance Authority, shall provide homeownership for individuals in accordance to rules and regulations established by the Authority with priority given to first-time homeowners or those individuals who have, for a period of not less than seven (7) years, lost their homes through foreclosure or divorce and have resided full time, at least nine (9) months out of every year, in the Virgin Islands for a period of not less than five (5) years.
(b) The Virgin Islands Housing Finance Authority shall qualify all applicants for homeownership under this chapter and provide three choices of sites for each applicant.
(c) No applicant shall be considered eligible under this section, if the Authority finds that the applicant, or the spouse of the applicant from whom the applicant has not been legally separated or divorced for a period of not less than five (5) years, already owns a home or a plot of real property within or outside of the Virgin Islands.
(d) No applicant shall be eligible for more than one home under the provisions of this chapter or any other Government housing program as provided under this Code.
(e) Neither the Authority, nor its Executive Director or employees, may waive any of the requirements under the provisions of this chapter.