THE PRINICIPAL RESIDENCE EXEMPTION
The principle residence should be given to a beneficiary who will be eligible to claim the principal residence exemption on it. Remember, married couples, together with unmarried children under the age of 18, are generally entitled to only one principal residence exemption among them. However, the principal residence exemption might be maximized, for example, by leaving the residence to an adult child who does not already have a principal residence. It is always good idea to collect information from financial advisor and then make sure with revenue Canada before you make your mind.
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