You do not automatically pay taxes on any property that you inherit. If you sell, you owe capital gains taxes only on any gains that the asset made since you inherited it.

Immediately, in June/July 2024, he executed a registered release deed for his inherited 1/3rd share ... the daughters want to sell this property. How the capital gains are to be calculated?

The cost of capital gains taxes depends on three main factors: How long you held the property ... have to pay. Learn more about how taxes apply to life insurance proceeds and when you do (and ...