Detailed Answer

Short answer: To buy out your siblings’ interests in co-owned Georgia real property you should (1) confirm ownership type and shares, (2) get an up-to-date market valuation, (3) negotiate price and payment terms, (4) document the sale with appropriate deeds and a written buyout agreement, (5) close and record the deed, and (6) consider court partition only if you cannot reach agreement. This article explains each step and the common legal issues you’ll encounter under Georgia law.

1. Confirm ownership and each person’s legal interest

Start by getting a copy of the recorded deed and any later deeds or court orders affecting title. Siblings commonly own property as tenancies in common (each has an individual share that can be sold or inherited) unless the deed specifically creates a joint tenancy with right of survivorship. The deed and the county land records show the legal owners and any encumbrances (mortgages, liens, easements).

2. Determine current market value

Obtain a professional appraisal or at minimum a broker price opinion. An objective appraisal makes negotiations fair and documents the amount you will pay for other owners’ interests. Use the full market value to calculate each co-owner’s share (for example, if there are three equal owners, each share is one-third of the appraised value, subject to outstanding mortgages and liens).

3. Calculate the buyout price

Common approaches include:

Pro rata share of appraisal value (minus outstanding mortgage balance and prorated expenses).
Discounted share if one owner takes on debt, repairs, or other obligations.
Negotiated middle ground — many buyouts land between appraisal and a negotiated discount.

4. Decide how you will pay

Typical funding methods:

Cash from savings.
Refinance the mortgage in your name alone (you borrow enough to pay the other owners).
Securitize the buyout with a promissory note from you to your siblings, secured by a mortgage or deed to secure debt.
Seller financing where siblings take a note from you with a deed transferring their interest.

If you refinance, the lender will require a title search and will usually require all prior owners’ interests to be cleared or subordinated. If you offer a promissory note, record a mortgage (deed to secure debt) so the siblings have a lien if you default.

5. Prepare and sign legal documents; close and record

At closing you’ll want these core documents:

A written buyout agreement or settlement that states the sale price, payment terms, representations and warranties, tax responsibilities, and closing conditions.
A deed from the selling siblings to you (common forms: warranty deed, special warranty deed, or quitclaim deed). Sellers often prefer a quitclaim; buyers usually want at least a special or general warranty deed and title insurance if possible.
If financing the buyout, a promissory note and a mortgage/deed to secure debt in favor of the sellers (or the bank), and closing statements showing prorations of taxes, insurance, and mortgage payoffs.

After signing, record the deed at the county clerk/registrar where the property is located to protect your title. Keep copies of all recorded documents. If the property is subject to an outstanding mortgage, make sure it is paid off or assumed according to lender requirements.

6. What if siblings won’t sell or you can’t agree?

If negotiations fail, Georgia law allows a co-owner to ask the court to partition the property. A partition action typically asks the superior court to divide the property (partition in kind) or sell it and divide proceeds (partition by sale). See the Georgia partition statutes: O.C.G.A. § 44-6-160 and following. The court evaluates whether a physical division is practicable; if not, it will order a sale and distribute net proceeds among owners according to their shares.

Filing for partition ends up in Superior Court in the county where the property sits. Courts may appoint commissioners to handle appraisal, sale, and distribution. Partition can force a sale even if one owner wants to keep the property.

Statutes for partition (example): O.C.G.A. Title 44, Chapter 6 — Partition: https://www.legis.ga.gov/legislation/ocga/44/6

7. Tax and financial consequences

Income tax: A buyout is usually a property transfer, not immediate income to the seller, but capital gains can arise later when the buyer sells. Sellers may have taxable gain depending on their basis and sale price. Consult a tax advisor.
Transfer, recording, and local fees: Counties charge recording fees; check the local clerk’s office.
Mortgage implications: If you refinance, closing costs, underwriting, and credit qualifications matter.

8. Practical sequence to follow

Obtain recorded deed and title report.
Agree on method of valuation and get an appraisal.
Negotiate price and payment structure in writing.
Hire or consult a real estate attorney to prepare the buyout agreement and deed and to coordinate closing and recording.
Close, record the deed, pay off any liens, and update insurance and tax records.

Relevant Georgia law (starting points)

Partition statutes (O.C.G.A. Title 44, Chapter 6): https://www.legis.ga.gov/legislation/ocga/44/6
Recording and conveyance provisions appear in Title 44 generally; check the Official Code of Georgia Annotated for deed and recording rules: https://www.legis.ga.gov/legislation/ocga/44

Disclaimer

This article explains general steps under Georgia law and is for educational purposes only. It does not provide legal advice, create an attorney-client relationship, or replace consultation with a licensed Georgia attorney about your specific situation.

Helpful Hints

Get a title search early. A title search reveals liens, judgments, easements, or prior claims that affect value or transferability.
Use a neutral professional appraiser agreed to by all siblings to avoid disputes about value.
Consider mediation before filing for partition—mediation can preserve family relationships and save time and money.
Watch deadlines for property tax prorations and mortgage payoff figures when scheduling the closing date.
If you take on a mortgage alone, make sure the lender removes other siblings from the title or you document how their interests are extinguished or secured.
Record documents promptly after closing to protect your ownership. Unrecorded transfers could cause disputes later.
Ask each sibling whether they want cash now or a promissory note—some accept seller financing if it yields a better price or tax treatment.
Consult a Georgia-licensed real estate attorney and a tax advisor before completing the transaction—laws and tax consequences vary by situation.