We have a similar issue with my wife's family ranch. My FIL gave his 500+ acre Hill Country ranch to his three daughters (one of which is my wife) - all undivided interests. My FIL is still alive and actively ranching the land with around 100 cow/calf operation. The ranch is complete with two houses, barns, and all the associated ranching infrastructure. He gave the property to his girls in an estate planning effort to reduce inheritance taxes on the eventual date of his passing. As the story usually goes, my wife does not get along with one of her sisters - at all!
My wife wouldn't mind being bought out by her sisters, but they can't afford it. Her sisters have no intention to sell and want to pass the land down to the next generation. That feels good but it doesn't pay the bills. Our problem is that eventually the maintenance on this place is going to get expensive. Wells, pumps, solar panels, roads, fences, barns, tractors, etc. - all require upkeep and maintenance. As an example, my sister-in-law recently got a quote for $40k for repairing and upgrading the access roads. They own a neighboring property and have a vested interest in keeping the roads tip-top. We don't. Currently, my FIL handles all the ranch expenses with the cattle business. But that can't last forever. If we can't sell after my FIL passes away, it could be a big liability (financially for me). There is a hunting lease that covers the property taxes but the rest will be 33% ours. We seem stuck and I don't see a way out. No doubt I'm missing something. I keep suggesting that we grow pot, but that idea hasn't gotten legs yet with my wife's family.