Investors & landlords

Okay, to clarify regarding this scenario:  the only sale would be Peter selling part of his July 2023 share (525/3=175) to Mary as follows: Mary pays Peter 125. Peter gifts Mary 50k. Can you advise how Peter would account for this aspect of the transaction? Mary's basis would be 125+ (50/175) x Peter's adjusted Basis at the time of our Mom's death?