Real Estate Law
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Good morning Patrick, I'm Doug, and I'm sorry to hear of the confusion. I have assisted you a number of times in the past, and as always, my goal is to provide you with excellent service today. Unfortunately, while your idea is a good one, the issue is not how long one has been married when it comes to the exemption for the capital gains tax on the sale of a property. The issue is whether you have been the owner of the property, and resided on the property as your primary residential address for at least 2 of the past 5 years. And, each owner of the property qualifies for the exemption---even if there are more than 2 owners so long as it is their residence being sold. In order for your significant other to include you for the additional $250,000 in exemption, you would have to have resided in the home as your primary legal residence for at least 2 years before the sale and have been a legal owner during that time as well---with your name on the actual deed. I am sorry. I understand that you may be disappointed by the Answer you received, as it was not particularly favorable to your situation. Had I been able to provide an Answer which might have given you a successful legal outcome, it would have been my pleasure to do so. If you have additional questions, you may of course reply back to me and I will be happy to continue to assist you further until your questions have been answered to your satisfaction. Please understand that I have no control over the how the law impacts your particular situation. Thank you, Doug
I may not remember to do that.
Who knows when I'll have another legal question.
I'll try, Doug.
Thanks for spot on answer.
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