@Ark808 wrote:
Would you know if Capital gains would apply to me?
With respect to capital gain, you can refer to Section 1.1015-4 (you are the transferor).
See https://www.law.cornell.edu/cfr/text/26/1.1015-4
Your basis would be the fair market value on the date of death of your mother (presumably $500,000).
Thus, if you sold to your sibling for $200,00 and $500,000 is your basis, you would have no (capital) gain or loss and would simply have made a gift of $300,000.
