who pays tax in a complicated house gifting

[elipeli]

A parent wants to gift a house to his two children. He would like to be fair, but since only one of the children can live in the gifted house, and the parent does not have cash to give the other child for fairness sake, the parent would like to make the gift of the house conditional on the "housed" child giving half the price of the house to the other child at the time of gifting (and in the same act). Who is liable for tax?

 

[tranquility]

A parent wants to gift a house to his two children. He would like to be fair, but since only one of the children can live in the gifted house, and the parent does not have cash to give the other child for fairness sake, the parent would like to make the gift of the house conditional on the "housed" child giving half the price of the house to the other child at the time of gifting (and in the same act). Who is liable for tax?

The one making the gift is responsible for the tax. Are you sure there is going to be one?

Why not gift the house to both with a defeaseable life estate to the one living there on sale?

 

[curb1]

What makes you think there would be a tax?