• Questions on property tax

Hello,

my Father is selling me his own condo which he was living there for 5 years  to me for the purchase price of 380,000,  I got approved for the mortgage of 230,000 and the down payment which it would be 150000 it is a gift from my Father to me, now my questions is should I pay any tax for the gift amount?
my second question is , is it better I will buy it or we do title transferring the property ? which one has the better benefit once I want to sell it?