Capital Gains on foreign home sale

[watergirl2]

I have a strange situation. When I was a kid my parents purchased a home in Mexico City were we lived with my mom. The title was under my name and my sister.

The home was purchased with a down payment and then my mom paid the mortgage over many years. 
 I moved to the USA and became a USA citizen 30 years ago. My sister and Mom lived on the home and paid for the prop taxes and maintained it. 

The both passed some years ago and my dad moved to the home. He lives mostly in Tulum Mx and travels to Mexico City once a year. So the home has been lived and maintained by my family. Now my Dad wants to sell it.

Since the home is still under my name I am the legal owner I have to be part of the deal and we are agreeing on a 50% 50% split

if I get 50% of the cash after commissions and mex taxes do I pay capital gains on that piece other full amount? The price will be under market value as it is not in good share. 

Purchased at under 100k
Worth today probably 380K
Most likely we would get 300K maybe 280K

So I would get my part about ~140k 

It is a gift as far as I know. As a foreign gift I don't have USA tax obligations. But I will have to sign for the sale (via a power of attorney) and legally I am the one selling it. I imagine the check will be on my Dad's name. He will send me cash as a gift. 

My questions are:
Do I pay capital gains just because the app was on my name to start with? (i never paid a dime)
If yes. Do I pay on the full purchase, the amount I received?
How are capital gains calculated if the value of the home was greater than the sale price?

Thank you
Fernanda

[Mike9241]

"Since the home is still under my name I am the legal owner I have to be part of the deal and we are agreeing on a 50% 50% split"

Since your father is not currently on the title, you may be responsible for reporting 100% of the gain and paying taxes thereon. your gain for US income tax purposes, would be your share of the selling price less your share of selling expenses less your basis in the property.

This forum answer US income tax questions. You're asking a legal question that involves a foreign country. seek legal advice. 

[watergirl2]

Can you explain what is your basis in the property?

Thank you