is CGT Due?

[Bellemains]

My elderly parents were the owners of a mortgage free property and it was their Principal Private Residence.
In 2012 when both our parents were alive, the property was transferred over to myself, my brother and my sister by means of a TR1.
No money changed hands.
All three of us siblings are named on the Land Registry and £300,000 value is stated.
There is no Deed of Gift
All three of us each have our own Principal Private Residence.
My father passed away in 2019. My Mother continued to live there until her passing in 2024. We are now selling the property for £500,000.
My question is whether myself, my Brother and my Sister are liable to pay capital gains tax?

[bd6759]

You are all selling an asset at a profit. None of you lived there as your residence, so you will be liable to CGT in proportion with your ownership: probably 1/3 each.

The property is also part of your mother’s estate for IHT purposes.