Tax on LTCG on Property

This discussion seeks clarification on how Long Term Capital Gains (LTCG) tax is applied when a jointly owned property is sold. The core question is how the tax liability is divided between a husband and wife. The consensus suggests that both individuals will be liable for LTCG tax based on their ownership ratio, or 50% each if no specific ratio is defined, with their share of the gain added to their taxable income.