I want to sell my vacation property. It is not my principal residence. It has increased in value three-fold in 10 years and I want to minimize my capital gain tax. I am planning on buying another vacation home soon after. If I arrange with the buyer, if willing, to hold part of the title and become their lender, can I transfer title as they pay me and spread the capital gain over multiple taxation years? If this plan works, what are the pitfalls, assuming I am willing to take the risk of the buyer's credit. What other plans are there to defer this tax?

That will not work. Besides, the MAXIMUM capital gains rate is 15%, so why bother?