Those are often so fast that it is better to wait and buy it when the court is done as getting approval to sale is longer than getting the property transferred. 

here are my questions1)  if my brother and her wife move in to our house and we transfer 50% of the title to them, and if me+brother sell the house in 2-3 years, will each couple qualify for $500K exclusion? 

(Fun Fact: Equitable Title means you basically own the house once you sign the contract, however the deed transfers at the closing.) 

They essentially amend who is paid and  quantify the security deposit that is transferred.  

LOLJust a side note: I have read many recorded transaction records at the county registrar that show "$1 as consideration" in order to validate a transfer of property between family members.

When properly implemented, a 1031 Exchange defers tax on property “sold” if the taxpayer acquires new property within a 180-day window, usually in coordination with an intermediary.

Then after 3 years sell the property and transfer the profits tax-free into our dream home we plan on building (or renovating).2.

Steve and I seem to be correcting each other, lol, goto a title company, they will take care of coordinating the execution of the documents required.Never use a quit claim deed in a purchase.

Think of them as two separate transactions, which they are and coordinate them properly.

I know from past experience that trying to keep minutes of meetings, records of stock transfers, etc. is not a strong point for me.