What is taxable when purchasing Real Estate, if the money came from someone else $500k?

When purchasing Real Estate, if the money came from someone else $500k directly to escrow and the property is in the name of an individual. When the asset is sold after 2 years and the individual keeps all the money, is the profit the one taxed as capital gains only? Or because the individual is keeping all the money that wasn't his (with permission of the individual that paid for the asset) will the whole $500k pay some sort of tax?