The following conditions must be met to qualify:

• your home was your principal residence for all years you owned or for all years except one year
• you report the sale of the property and designate it as your principal residence on Schedule 3 and complete Form T2091(IND)
• you or a member of your family did not designate any other property as a principal residence while you owned your home.

Remember to report the disposition of capital property in the calendar year (January to December) you sell, or are considered to have sold, the property.

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