what happens to co-owned assetts?

What is the name of your state? TEXAS

I own 1/6th interest a piece of undeveloped real-estate in Texas, the rest of it is owned by various members in my family. No mortgage or any other leins on the property. the property generates timber and oil money about every 15 years, which represents about a $10,000 windfall per sibling every decade. Taxes are current. If one of us declares bankruptcy in Texas under Ch 7, will the bankrupt's undivided interest be sold to pay off debt? I cant afford a lot but would be willing to purchase my sibling's interest for $1000 but am afraid that if buy my sibling's interest it would be considered a fraudulent transfer. The property has no substantial commercial value, but has been in the family for a long time (four generations) and I would hate to see it owned in part by a stranger.

[Ladynred]

I *believe* that the Trustee would look at the value of 1/6th of the property. If you have any kind of assessment available as to the value of the total property, on a quick-sale basis, divide that. If not, ask a R.E. agent to give you that sort of quote. The trustee would ask your sibling if he/she were coming into any money in the near future. If the 'income' from that property is many years away, your sibling might be able to say 'no' to that question. If the 'income' is not regular and cannot be counted on in a set time frame, it may escape siezure or sale.