"Yeah..it wont work in a mllion years"
Simply not true. Happens regularly. If parents want to do this, they are compos mentis, its theirs and theirs alone, no-one else has a formal interest in it, then they are 100% free to do what they wish. Will the other siblings be ticked off? Possibly, but could everyone remember please that what you may regard as your rightful inheritance is not necessarily yours by right. And no, unless there is some skull duggery underway, they would have no grounds to sue.
If parents want to do it, if site is sufficiently large to make it workable, then offspring can (a) buy the site or (b) take a gift of the site. Pay all fees involved. Parents can simply say in a will that lucky offspring has already had sufficient benefit and will not be provided for by parents on their death.
If other siblings have an issue, it should be addressed openly. Situations like this can cause bad feeling and I'm a great believer in everyone showing their true colours before the great divvy up happens when parents die.
mf