(1) “Residence” means the principal place of residence within the District of an individual, shareholder, or member, who is domiciled in the District.
(2) “Homestead” means:
(A) In the case of real property improved by a house or a condominium, an individual’s residence that:
(i) Comprises a dwelling unit;
(ii) Is Class 1A or 1B Property, as defined in § 47-813(c-9)(2), that contains not more than 5 dwelling units therein; and
(iii)(I) Is owned in whole or in part by the individual; or
(II) Is owned in whole by trustee under a special needs trust for the benefit of a beneficiary who is deemed to be the owner under § 47-802(5)(E).
(B)(i) In the case of real property owned by a cooperative housing association that is Class 1A or 1B Property, as defined in § 47-813(c-9)(2), a shareholder’s or member’s residence that:
(I) Comprises a dwelling unit; and
(II) By reason of his ownership of stock or membership certificate, a proprietary lease, or other evidence of membership, is occupied by right by the shareholder or member.
(ii) For purposes of sub-subparagraph (i) of this subparagraph, a shareholder or member shall include the beneficiary of a special needs trust who is deemed to be the owner under § 47-802(5)(E).
