Land transfer from parents

[Michelle St. john]

My parents have 20 acres of land, and want to give my husband and I 10 acres to build on. The land isn't subdivided as of yet. I'm trying to find the best way to do this. While avoiding huge tax implications for both them and us. Should they gift it or deed it? What will allow us to not have to pay a hug amount in state taxes and them paying a huge amount in federal income taxs?