How does the IRS define home ownership

Home is where the heart is?

Taxpayers are considered to either rent or own a home. Ownership is deemed to occur when you possess the legal title of the residence. Regardless of whether the home is your primary residence, second home, or merely held for investment, answer yes to the question "Did you own a home?" if you maintain legal title to the residence.  Home owners are entitled to a number of deductions that may be claimed on their return.