Short answer

Yes. Under Georgia law, co-owners of real property can generally negotiate a private buyout so that one co-owner acquires the other’s ownership interest without filing a court partition action. Courts provide a partition remedy when co-owners cannot agree, but a negotiated buyout is usually faster, less expensive, and gives the parties control over price and terms.

Detailed answer — what Georgia law allows and how a buyout works

Georgia gives co-owners two main paths: (1) agree among yourselves (contractual buyout or sale of one owner’s interest) or (2) ask the court to partition the property. The statutory procedures for partition actions are in the Georgia code governing partition of land. See the Georgia Code on partition (Title 44, Chapter 6): O.C.G.A. Title 44, Chapter 6. If you and the co-owner reach a written buyout agreement, you avoid the time, expense, and uncertainty of a court-ordered partition.

Key legal principles:

• Freedom to contract: Co-owners may enter binding written agreements to transfer one owner’s interest to another. A properly drafted agreement and deed will transfer title without court involvement.
• Court partition as a backstop: If co-owners cannot agree, any co-owner may file a partition action in superior court asking the court either (a) to divide the property into separate parcels (partition in kind) or (b) to order a sale and divide the proceeds. Courts typically grant partition when requested. See the partition statutes linked above.
• Mortgage and lien considerations: A buyout does not automatically remove a seller’s obligation on any mortgage unless the lender agrees. If the property has a mortgage, the buyer often must refinance or obtain the lender’s consent to assume the loan. Otherwise the seller may remain liable on the mortgage even after conveying their ownership interest.

Typical buyout process (practical steps):

1. Confirm ownership and interests: Review title work or a preliminary title search to confirm how the property is owned (tenancy in common, joint tenancy, etc.) and identify mortgages or liens.
2. Agree on value: Get a neutral real estate appraisal or multiple broker-price opinions. Parties can also use a fixed formula (e.g., market value minus outstanding mortgage share).
3. Negotiate terms: Decide whether the buyout is a lump-sum cash payment, installment payments, or a refinancing that removes the seller from debt. Address who pays closing costs, prorations, and how property income/expenses are handled up to closing.
4. Draft a written agreement: Create a written purchase agreement or buyout contract spelling out price, payment schedule, deed type (quitclaim vs warranty deed), release of claims, and conditions (inspection, title clearance, financing contingency).
5. Title and closing steps: Use an escrow/title agent or attorney to handle closing, prepare the deed, clear liens if required, and record the deed at the county recorder’s office.
6. Address tax and documentary implications: Consider capital gains, transfer taxes, and how rental income or depreciation will be allocated; consult a tax advisor if necessary.

Common reasons parties choose a buyout

• Cost savings compared with court litigation.
• Faster resolution and certainty about sale price and terms.
• Privacy — no public court record of a partition fight.
• Ability to structure tax-advantageous or owner-specific terms (installment sale, seller financing, etc.).

When a buyout may not be possible or advisable

• The co-owner refuses to sell or negotiate.
• Disagreement on value and the parties cannot bridge the gap.
• A mortgage or lien structure prevents a clean transfer without lender consent or refinancing.
• One co-owner needs to exit immediately and cannot wait for financing or extended buyout terms — in that case a partition action could give a faster judicial remedy.

If you cannot reach agreement, you retain the statutory right to file a partition action in superior court under Georgia law. The court can order a division in kind or a sale with proceeds divided among owners. See O.C.G.A. Title 44, Chapter 6 (partition).

Hypothetical example

Two siblings co-own a rental house as tenants in common. One sibling wants out. They obtain an appraisal showing market value of $200,000 and agree the selling sibling’s 50% share is $100,000. Buyer sibling refinances the mortgage to remove the seller from the loan, pays $100,000 at closing, the seller signs a quitclaim deed transferring the interest, and the deed is recorded. Both avoid court and control the terms.

Helpful Hints

• Get a neutral written appraisal to anchor negotiations.
• Always use a written buyout agreement and a recorded deed — verbal deals are risky.
• Confirm whether a mortgage will be satisfied or the seller will remain on the loan. Contact the lender early.
• Use an escrow agent or closing attorney to handle funds and record the deed.
• Consider mediation if you and the co-owner are close but stuck on price — a mediator can help bridge differences without court.
• Retain a Georgia real estate attorney to draft or review the buyout contract and closing documents, especially when liens or mortgages exist.
• If the other owner refuses to negotiate, you can protect your rights by filing a partition action in superior court under Georgia law (Title 44, Chapter 6).