Marketed as 'The Riviera of America' perhaps Niceville's name was chosen for Nice, France situated on a beautiful bay with a temperate climate along the French Riviera. As interest in the local area grew McCaskill marketed land along the Choctawhatchee Bay as The Vale of Paradise.
In the case of a sale or exchange of property by an unmarried individual whose spouse is deceased on the date of such sale, paragraph (1) shall be applied by substituting â$500,000â for â$250,000â if such sale occurs not later than 2 years after the date of death of such spouse and the requirements of paragraph (2)(A) were met immediately before ...
If you have owned and used the home as your principal residence for periods totaling at least two years during the five year period ending on the date of the foreclosure, you may exclude up to $250,000 (up to $500,000 for married couples filing a joint return) from income.