You would need to complete form 3520 Annual Return to Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts if the value of the property is over $100,000 and ownership was transferred to you.
If ownership of the house did not change, however, there would not be any reporting required on an income, information or gift tax return.
[Edited 2/15/21 7:52 PM PST]
@yashK1
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
