Legal Question in Real Estate Law in Indiana

Re: Property ownership buy out...

Your brother and you can agree at any time to split up the property either by dividing it or, if not susceptible of division, selling it and splitting the proceeds. If you and your brother cannot agree, it may be possible to obtain a court order "partitioning" the property or ordering its sale, but we would need to conduct further research into the facts of your situation and the law before advising you on this. Your brother can certainly attempt to deed his interest in the property to his wife, but such deeding should be ineffective as to you.

Re: Property ownership buy out...

I can not tell from your submission whether you and your brother are in agreement on buying you out. If not, you will ahve to file a lawsuit to partition the property, which is a fancy way of saying, obtaining a court order requiring the sale of the house. Your brother can then eitehr buy you out, or divide the proceeds with you.

The second question is more difficult to explain. Let us say that you have a whole pie. You and your brother each own half of the pie. He may be able to give part of his half to his wife under sone circumstances. However, you still own the other 1/2.