Minimizing tax paid on money recieved to buy a house?

[Ali Qudsi]

Hi Guys, 

I was hoping someone might guide me in the right direction. To make a long story short a relative has given me and my wife a large sum of money as a gift and we want to use this to purchase our first Condo/home. Is there a special type of account or fund I can deposit this into to avoid paying taxes on money that I plan on using completely for a real estate venture? Or to minimize the double taxing of both "income" tax and property tax?

Thanks in advance!