Does Gift Tax Apply or Does Lifetime Exclusion Prevail ?

Hey Guys - 

Does anyone have any comprehensive Information regarding gift tax ? 

For example: if a parent wants to gift the post capital gains proceeds from a family cabin to 2 children ...Short of death, does the gift tax exclusion apply here ? I have one CPA telling me it does not and the donor must pay the gift tax on any amount over $15K annual and countless blog and other online info saying that any amount over $15K goes toward the lifetime gift tax exclusion ( currently over $11 million and soon to be reduced to $3 million) 

The parent IS NOT interested in a 1031 exchange BTW....and I will be seeking the advise of a RE Attorney...I just want to understand why it is so unclear.

Appreciate any information.