CRA considers an estate to own its property

One of the tests for a property to qualify as a qualified farm or fishing property of an individual is that for the previous 24 months it was owned by the individual, a personal trust from which the individual acquired the property or a parent. CRA considers that during the period that a farm is held by an executor, it is the estate (viewed as a personal trust) that owns the trust, and that the 24-month test will be satisfied where the individual acquired the farm from the estate which in turn received the farm from the individual’s parent who had owned it for the balance of the 24 months.

Neal Armstrong. Summary of 7 October 2016 APFF Roundtable, Q.10 under s. 110.6(1.3)(a)(i).