Can investment real estate that was put on the market prior to filing for divorce be sold?

A family member has real estate that is unoccupied and was purhcased as an investment. He buys real estate, remodels and sells it to earn a living. His current property has been on the market for about 9 months. His wife had him served with divorce papers yesterday which indicate that she is going after the investment property as well as their marital home. The same day, yesterday, he received an offer on the investment home.

1. What are his rights as far as accepting the offer and selling the home.

2. The money used to purchase and remodel the house was loaned to him by his brother, how can he secure the money that he owes him from the proceeds of the sale (nothing additional is being paid other then repayment of the loan)?

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