selling a home

I married in 2024. My husband and I are selling our individual homes and plan to purchase a home together in 2025. 

1. The estimated equity from my home sale will be 100% invested in the new home purchase in 2025
2. The estimated equity from my husbands' sale will be 50% invested in the new home purchase in 2025. My husband intends on gifting the remaining 50% to his 2 adult children. 

Here are my questions:

1. Will we have to pay capital gains tax on the 50% equity (~$200k) my husband is gifting his adult children?
2. Will my husbands' 2 adult children have to pay any taxes on the gift estimated at $100k each? 

Thanks