Retirement tax questions

Mom and Mad bought the home5yrs ago. They are deceased, I am the personal representative of an informal probate in Az. Not court supervised. just a filing thing. The will says that my sister and i are to divide the assets. and has the paper from the court. Just the home and a small amt of cash. Total assets about 120K my sis will give me half. 60k.My sis  and her husband plan to move into the home. We are going to transfer the deed to her as part of the distribution of assets  is that 60K  taxable? Or is it still an inheritance? Or they each  could gift us 14k (sis & hubby) this year and next year, 56K then the rest later. Thanks