Is there capital gains tax on the sale of a jointly owned property?

People are surprisingly quick to enter into jointly owned property arrangements. They may or may not consider all of the legal consequences when they consider setting up one of these arrangements. One of the consequences that is almost always overlooked is that of capital gains tax.

Is there capital gains tax when a joint property is sold? If so, who owns that tax liability?

I came across an article in Moneysense that talks about the tax that arises when a couple sells a jointly owned home they bought together when one of them already owns another house. This amalgamation of assets happens frequently as parties re-marry later in life so I believe this article will be of interest to many of you.

I'm attaching a link here for you to check out the article.