Detailed answer — what you need to do

1. Confirm how the property is owned

Start by obtaining a copy of the deed from the county registry or your closing paperwork. Look for language such as “tenants in common,” “joint tenants,” or “as survivors.”
– If owners are tenants in common, each owner has a definable share that can be sold or transferred.
– If owners hold as joint tenants with right of survivorship, ownership may pass automatically on death rather than via sale.
Understanding the form of ownership affects your ability to buy a sibling’s share and what documents you need.

2. Do a title search and get a payoff/mortgage status

Order a title report or ask a title company to check for mortgages, liens, judgments, easements, or clouded title. If there is a mortgage, the lender’s rules matter: most mortgages include a due-on-sale clause or named borrowers. You will likely need lender approval or to refinance the loan in your name to remove other owners from the mortgage.

3. Get the property valued

Obtain a professional appraisal or, at minimum, a comparative market analysis from a local real estate agent. Market value determines a fair buyout number. Buyers sometimes offset shared costs (back taxes, repairs) when calculating each owner’s net share.

4. Calculate each owner’s share and propose a buyout price

Common methods:
– Pro rata share based on ownership percentage (e.g., 1/3 each).
– Market-value share less prorated debts and repair costs.
– Agreed-upon negotiated figure (may include premium or discount).
Put your offer in writing: show the appraisal/date, how you calculated the price, and any proposed payment terms.

5. Negotiate terms and document the agreement

Decide how you will pay siblings: lump sum, installment sale, seller financing, or refinancing. Put the agreement into a written purchase and sale contract or buy-sell agreement that covers price, payment schedule, closing date, who pays closing costs, and what happens on default. Having an attorney or a real estate closing agent prepare or review the document reduces risk.

6. Address mortgage and lender issues

If the property has a mortgage, options include:
– Refinance the mortgage in your name and use part of the new loan to pay siblings; or
– Seek the lender’s approval to remove co-owners from the mortgage (rare); or
– Have siblings pay off their interest and remain on title if lender allows (often not acceptable to lenders).
Expect the lender to require a credit check and underwriting if you refinance.

7. Close the transaction and record the deed

At closing you will execute the purchase funds exchange, and the selling siblings will sign a deed (usually a warranty deed or quitclaim deed). After closing, record the new deed at the county recorder’s office. Recording updates public records and protects your sole ownership. A title company can issue owner’s title insurance for the new sole owner.

8. Update taxes, insurance, and estate documents

After the deed records, update homeowner’s insurance and property tax mailing addresses. Consider how the new sole ownership affects your estate plan, and talk to a tax advisor about possible capital gains consequences and basis adjustments.

9. If siblings won’t cooperate: partition action

If one or more co-owners refuse to sell or transfer their interest, Nebraska law allows a co-owner to file a partition action in county court to force either a division in kind or a sale. A court-ordered partition can result in a physical division of the property (rare for a house) or a sale with proceeds divided among owners. You can review Nebraska’s statutes related to partition and civil procedures on the Nebraska Legislature website (search the chapter on partition actions): Nebraska Revised Statutes, Chapter 25. Partition actions are adversarial, can be expensive, and often produce a lower net return than an agreed sale or negotiated buyout.

10. Consider timelines and costs

Typical timeline:
– Title search & appraisal: 1–3 weeks.
– Negotiation and contract: varies (days–months).
– Lender refinance: 30–60 days.
– Closing & recording: 1–2 weeks from clear-to-close.
Costs to budget:
– Appraisal: $300–$600 (varies).
– Title and recording fees: varies by county.
– Attorney fees (if used): hourly or flat fee.
– Closing costs and any payoff of liens/mortgages.
– Possible costs if partnership/partition litigation becomes necessary.

11. Tax and gift considerations

A buyout below market value can be treated as a partial gift for federal tax purposes; consult a tax advisor. When you eventually sell the home, your capital gains basis depends on how much you paid for the property interest and prior basis adjustments. State property tax reassessment rules may apply after the transfer.

12. When to get professional help

Consult a Nebraska real estate attorney or title company if you face any of these situations:
– Competing claims on title.
– Refusal by co-owners to sell.
– Complex mortgage or lien issues.
– Unclear ownership percentages.
– Large tax or estate planning consequences.

Useful legal reference: For the statutory framework on partition and related civil procedure in Nebraska, see the Nebraska Legislature’s statutes and search for “partition” or related real property chapters: Nebraska Revised Statutes.

Helpful Hints

• Start with the deed: the words on the recorded deed tell you the type of co-ownership and who must sign.
• Get a professional appraisal to support your offer and avoid disputes about value.
• Consider refinancing the mortgage in your name; lenders often require it to remove others.
• Use a written purchase agreement — verbal deals are risky and hard to enforce.
• Record the deed promptly after closing to protect your ownership rights.
• Ask siblings about whether they prefer cash now, payments over time, or other arrangements — flexibility can keep costs down and preserve family relationships.
• If you and the siblings cannot agree, expect a partition action to be costly and unpredictable; negotiate first if possible.
• Talk to a Nebraska real estate attorney before filing suit or signing complicated financing documents.
• Check for any liens or unpaid property taxes—these may reduce the amount available to pay siblings.
• Consult a tax professional about potential gift tax issues if you pay less than fair market value for a sibling’s share.