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Gifting a Home (the tax advantages way!)

I’m in a quandary regarding what to do with my deceased grandparents home. This home has been vacant for 8 years and is beginning to become derelict. The home is owned by my aunt and uncle currently, as my father passed away several years ago as well. My sister and I are interested in acquiring this property to renovate and rent out. What is the best (most tax efficient) way for us to approach the gifting of the property from aunt and uncle to my sister and I? The home is of little value to them in its current state, but I don’t want them to have to pay gift taxes. I also do not want to pay capital gains taxes on the assessed value of the home once I obtain it. Thanks I’m advance!

submitted by /u/annonymous-ice6446
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source https://www.reddit.com/r/RealEstate/comments/126fqup/gifting_a_home_the_tax_advantages_way/
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