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I am Al and am happy to assist you with your enquiry.
Could you please clarify whether the legal ownership of the property has always been in your mother in law's name and you had an "equitable interest" comprised in a Deed of Trust and you agreed to release your interest under the Deed of Trust in 2014?
the deed of trust was in mine and my wifes name only my mother in law had no financial interest
we provided the funds to purchase the property to my in/laws but were protected by the deed of trust, additionally the will of my mother in law protects us whereby its willed to us we have reassigned the property to my mother in law in june 2014, we reassigned it to her as we thought this would be tax beneficial
thought my tax liabilities would be 40% cgt previous advise from just answer states this is not the case . also my mother in law is in care it was a balancing act as to what would be more expensive cgt or care costs