Well, the capital gains would have to be borne equally if there arises a capital gains on sale of the property.
Of course, one gets a capital exemption under section 54, if one invests the proceeds in another house. Now, here again the individuals who sold the house, must buy or invest in the other house together to claim capital gains exemption.
Let's cite an example...
A father expires leaving behind four children and his wife. The property of the father is now transferred in the name of the wife and the four children. Now, if this property is eventually sold, all 5 would have to bear the capital gains that is made on the sale of the property equally. On the other hand if the entire amount is invested in a joint property in five names there would be an exemption on capital gains tax payable.
Now, let's say the children want only the new property in the name of the mother. Then, in that case the mother would get capital gains exemption, while the rest of the children are liable to pay capital gains tax, unless the new property is again invested in the name of the five persons.
Of course to save capital gains one can invest in the capital gain bonds, in which the profit arising from the sale of a property can be invested. These have a lock-in period and a maximum limit of Rs 50 lakh that can be invested in these bonds.
Also read How to avoid capital gains tax?