When my father and his 3 sisters inherited their parents’ almond orchard in the late 80s, no one bought anyone out. Each retained a 25% share. One sister gifted her portion to the youngest sister, who was quite poor. When I took over managing the finances, created a spreadsheet apportioning the capital account and transactions proportionally by ownership percentage. I also drew up a partnership agreement. I now own it with two cousins. At the end of the year we all get checks based on the net profit for the year and our percentage of ownership.
The orchard is managed by a local family business that cares for their own orchard property as well as other leased orchards, probably over 2000 acres in the county. The family has been in the business for a very long time and has cared for it since not long after my grandfather died nearly 50 years ago. They are in their second generation of this type of arrangement.
In the lease agreement, it is spelled out what they do and pay for, and what we pay for. They do the work and pay labor costs. A few expenses are split between the lessee and ourselves, but we pay for trees, fertilizer and other chemicals, taxes and utilities. The gross profit is divided 50/50 between us and the business.
You could consider a gradual buyout, or just own it together, working out an contract with the one farming the property leases the other portions from the siblings, getting more of the profit commensurate with his/her effort. As landowners you share in the costs but also some of the profit.
Making such an arrangement seems less costly than buying each other out with cash.