Not saying anything about selling or not.  

I would suggest you do some soul searching before you make and decisions to sell.

Or would the son have to own his half of the home for two years prior to selling in order to qualify for the exclusion?

Selling a house with furnishings doesn't really add value and many buyers won't want the furniture.

Looking for points of view on selling or keeping properties in Toronto, Ontario.

Quote from @Keira Hamilton: Here are 5 lessons I learned from selling my laundromat last year that can help you as a prospective business buyer.Lesson 1️⃣ - Listing sites can be a legitimate way to buy and sell a business.I will often hear people say that they’re not even going on listing sites because “they only have bottom of the barrel listings,” but this has not been my personal experience.

I have more money than I will ever need and almost every toy I could want.But when I was willing to work harder than I am now, I targeted good value adds.  

So, why would you sell? 

Why not consider selling your property and investing in a duplex or triplex?

I would sell and take your gains.