Buying someone out of a home usually involves paying them half of the equity that you share.
This may not always be the case as it can depend on how much each party has contributed to the equity over the years.
If one party has contributed more to the total equity they may feel they should have to pay less than half to buy someone out.
After you get the property valued and calculate the equity it’s time to settle a buyout fee with the other party.
Once the other party has paid their share, they can be removed from the mortgage. As soon as the mortgage transfer is complete you have officially gained sole ownership of the property.