What is meant by a "principal residence"?

A principal residence is a dwelling for which the owner/claimant has been granted, in the name of the parent or the child, either a homeowner's exemption (claimant owned and occupied as principal residence at the time of sale or within two years of the acquisition of the replacement property) or a disabled veteran's exemption (claimant a veteran with service-related disability and a California resident on January 1 of claim year). Only a reasonable portion of the land will be considered a part of the principal residence if the land exceeds the area reasonably necessary as a site for the residence.

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1. How will Proposition 19 affect the Grandparent-Grandchild Exclusion?
2. May eligible family members combine their exclusion benefits?
3. Must the property qualify as the principal residence of both the transferor and the transferee?
4. What is meant by a "principal residence"?
5. What is the filing deadline for a Prop 193 claim?
6. When must I file my claim for exclusion?