I purchased a home with my father in law in 2015. He was considered a 1% owner and I was a 99% owner. He has since lived in the home and paid "rent". Technically, the property is listed as a rental property on my taxes. If I were to transfer ownership to him, how long would he have to wait before he could sell the home and be eligible for the exemption? He has never owned/sold a home before.
Thanks in advance for any assistance.
