Does CRA consider that the test in s. 110.6(1.3) for holding by ascendants or descendants is satisfied when a child acquires the property from the estate of his father rather than directly from him? CRA responded:
During the holding by the executor, the CRA considers that the estate has the ownership of property, and without regard to the private law applicable to the estate.
Generally, the condition set out in subparagraph 110.6(1.3)(a)(i) could be satisfied where an individual has acquired a property from an estate which is a personal trust and the property belonged to one or more of the persons listed in subparagraph 110.6(1.3)(a)(i) throughout the period of at least 24 months before the given time.