Detailed answer — Step-by-step guide under Wyoming law

1. First, confirm who legally owns the property and how

Start by reviewing the deed recorded at the county clerk/recorder. Ownership may be:

• Tenancy in common — each owner has a divisible share that can be sold or transferred.
• Joint tenancy with right of survivorship — the deceased owner’s interest may have passed automatically to the surviving joint tenants.
• Held by an estate or in probate — if your father has died and the estate has not been closed, title may be in the estate and distributions will follow Wyoming probate rules.

If your father is deceased and the property went through probate or ownership passed by deed or trust, determine whether the heirs already hold title. If title still lies with the estate, talk with the personal representative about how any sale or transfer is being handled.

2. Get a reliable market value

Obtain a written appraisal from a licensed appraiser or a current broker price opinion. The market value determines how much you must pay for the siblings’ shares. For inherited property, consider whether heirs receive a stepped-up basis — a tax consideration you should confirm with a tax advisor.

3. Decide on a buyout price and structure

Common approaches:

• Pay each sibling their pro rata share of the appraised market value (e.g., 1/3 of fair market value for each of three equal owners).
• Negotiate a discounted price for minority shares, considering repair costs, marketability, and time to close.
• Structure as a lump-sum purchase, seller financing (installments), or an assumption/refinance of the property mortgage to cash out other owners.

4. Financing the buyout

Options include:

• Cash from savings or a private loan.
• Mortgage refinancing in your name to raise funds to pay siblings (lender must approve; existing mortgage may need payoff).
• Seller financing where siblings accept payments over time and sign a promissory note and deed of trust.

5. Use clear written agreements and follow proper conveyancing

Put the deal in writing. Typical documents include a purchase agreement, deed (quitclaim or general warranty deed), closing statement, and releases of liens. Record the deed with the county once you buy the interests. Work with a title company or real estate attorney to confirm there are no hidden liens and to obtain title insurance if appropriate.

6. If siblings won’t agree: partition actions and leverage

If you can’t reach an agreement, any co-owner can file a partition action in Wyoming district court to divide the property in kind or to force a sale. A judge may order:

• Partition in kind (rare for residential parcels where division is impractical), or
• Partition by sale — the property is sold and proceeds are divided among owners.

Threat of partition can be leverage in negotiations. Partition actions carry court costs and can result in an outcome you don’t want (forced sale), so they are best avoided if possible.

7. Consider tax implications and other liabilities

Buying out siblings can trigger tax consequences:

• Capital gains tax on future sale — cost basis depends on how you acquire the interest (purchase vs. inheritance).
• Gift tax issues if you pay substantially less than fair market value for an interest.
• Mortgage and property tax responsibilities after the buyout.

Talk to a CPA or tax advisor about these issues.

8. Use professionals

Hire a licensed appraiser, title company, and consider a real estate attorney to draft and review agreements and to handle closing. If disputes are likely, mediation or a neutral facilitator can resolve emotional and family issues more cheaply than court.

Key Wyoming references

Wyoming statutes and the judicial branch explain procedure for real property matters and partition lawsuits. See the Wyoming Legislature site for statutes: https://wyoleg.gov/statutes. For court rules and filing locations, see the Wyoming Judicial Branch: https://www.courts.state.wy.us.

Important: This description summarizes common steps under Wyoming practice. Specific facts (whether the father is alive or deceased, recorded title terms, existing mortgage, and other liens) change the appropriate steps.

Helpful Hints

• Start by pulling the deed at the county recorder and get a title report to confirm ownership and liens.
• Get a professional appraisal. Don’t rely solely on online estimates.
• Make an offer in writing and explain your funding plan—owners take written, funded offers more seriously.
• Consider offering a small premium to siblings for a quick, clean sale to you instead of a potential court sale later.
• If refinancing to buy out siblings, check with lenders early to confirm they will lend on co-owned property once you own 100%.
• Use a deed form that matches the transaction risk you want to accept (quitclaim transfers minimal warranty; warranty deed offers stronger protections to the buyer).
• Keep records of all communications and payments in case of later disputes.
• If emotions run high, propose mediation before filing any lawsuit—courts often encourage settlement and mediation can preserve family relationships.