Detailed Answer

Disclaimer: This is educational information only and is not legal advice. For advice about your specific situation, consult a licensed Wyoming attorney.

Overview — what generally must happen to keep a co-owned home in Wyoming

To buy out your siblings’ interests so you can retain the home, you will typically follow a series of practical and legal steps: confirm how title is held, determine each owner’s share, get a current market value, negotiate a buyout price and terms, resolve mortgage and lien issues, document the transfer with an appropriate deed, and record the deed. If co-owners will not cooperate, Wyoming law permits a forced partition action in court that can result in sale or division of the property. For information about Wyoming statutes and court procedures, see the Wyoming Legislature statutes page: https://wyoleg.gov/Statutes and the Wyoming judicial branch: https://www.courts.state.wy.us.

Step-by-step actions

Confirm ownership type and shares.

Get a copy of the current deed from the county deed records or a title company. Common forms of co-ownership are tenancy in common (each owner has a divisible share) and joint tenancy (right of survivorship). How title is held affects the process and what each sibling is entitled to receive.
Order a title report and identify liens or mortgages.

A title search reveals mortgages, tax liens, judgment liens, or easements that affect value and who must pay what at closing. If there is a mortgage, the lender’s consent or a refinance is often required to remove co‑owners from mortgage liability.
Get an accurate market appraisal or comparative market analysis.

Hire a licensed appraiser or request a broker price opinion so you can set a buyout price based on market value (not just your perception).
Calculate each owner’s share and the buyout amount.

Determine each owner’s percentage interest from the deed (if not stated, shares are often presumed equal). A typical formula: (fair market value of property) × (owner’s percentage) − (owner’s share of liens and costs) = buyout price. Be explicit about whether the price is cash at closing or subject to mortgage assumptions/refinance.
Negotiate and put terms in writing.

Prepare a buyout agreement that covers purchase price, payment timing, who pays closing costs and taxes, handling of existing mortgage (assumption, part payoff, or refinance), and when the deed will be delivered and recorded. Even between family members, a written agreement reduces later disputes.
Resolve mortgage and financing.

If the property has an existing mortgage, lenders often require either that all borrowers stay on the loan or the loan be refinanced into the buyer’s name. Options include:
- Refinance in your name only, using the buyout proceeds to pay off co-owners’ shares;
- Obtain lender approval for a formal mortgage assumption (less common);
- Use cash, home equity loan, or other financing to pay siblings without changing the mortgage.
Prepare and sign the deed transferring sibling interests.

Once terms are met, the co-owners execute a deed (often a quitclaim or warranty deed) transferring their interest to you. The deed must meet Wyoming formalities and be notarized. Work with a title company or attorney to ensure the deed language accurately conveys the intended interest.
Close, pay, and record the deed.

At closing, funds transfer as agreed, lien payoffs occur, and the new deed is recorded in the county where the property is located. Recording gives notice to the world of the ownership change.
If siblings refuse to cooperate: consider a partition action.

If a co-owner will not sell or sign a deed, you can file a partition action in Wyoming district court asking the court to divide the property (“partition in kind”) or order sale and distribute proceeds. A partition action is a legal remedy that can force sale; it involves court costs and possible appointment of a commissioner to handle the sale. See Wyoming statutes and local court rules for civil actions: Wyoming Statutes and Wyoming Courts.

Practical matters and tax considerations

Confirm property taxes and prorations at closing.
Ask a tax advisor about capital gains and basis adjustments when ownership changes. Federal tax rules may apply; see the IRS for general guidance: irs.gov.
Review homeowners insurance — update policy to reflect sole ownership and verify continued coverage after the deed records.
Consider documented proof of funds and a formal closing to avoid future family disputes.

When to get legal help (good moments to consult a Wyoming attorney)

Title or lien problems show up in the title report.
There is disagreement about ownership shares or whether the deed language supports a claimed interest.
You need a buyout agreement drafted to protect your interests.
A co-owner refuses to cooperate and you are considering a partition action.
Complex tax consequences or estate issues (probate, inherited property, or decedent’s interest).

Helpful Hints

Start with a title search — it often clarifies everything about interests, liens, and required signatures.
Use an independent licensed appraiser for an objective value.
Document all offers and communications in writing, even among family.
Consider mediation if negotiations stall — it’s cheaper and faster than court.
Plan for the mortgage: lenders frequently require refinance to remove co-borrowers.
Record the deed promptly after closing to avoid clouded title issues later.
Keep copies of all closing documents, payoffs, and recorded deeds for future sale or estate planning.

For specifics about filing a partition or other property-related statutes in Wyoming, consult the Wyoming statutes and your local district court rules at the links above. If you want help finding a Wyoming real estate attorney to review your documents or represent you in negotiations or court, a local bar association referral can assist.

Final reminder: This article explains general steps under Wyoming practice. It is not legal advice. Consult a licensed Wyoming attorney to act on your situation.