From your point of view it would be better if your father sold the property and gave you the money. No CAT as within treshold. Any future inheritance from your parents would have to take this cash into account.
Your father would be liable to CGT.
AFAIA you have to get the house valued at April 74 any valuer should be able to do this. You then apply the multplier rates from then till 2002, deduct expenses (selling, getting land valued etc.) deduct 1,270 and pay 20% CGT on the balance.
Link to [broken link removed]