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@taxmo wrote:

Only if he waits two years after the date they gift their 2/3 portion to him.

They can't just gift their interest in the property to him and have him qualify right away to deduct the gains from the whole property, because that portion of the property wouldn't yet meet the 2 year requirement.  

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Do you have a citation for that?

I would need to look things up again, but in many cases an owner is still entitled to use 100% of the property even when it is owned by more than one person. 

While I agree that your comment seems somewhat 'fair', I don't think it is necessarily correct (although it is possible how the title was held and state law could affect it).