Joint ownership of farm land

Myself and one of my friends have farm land in Karnataka. My friend's land is connected to the main road and my land comes behind his. Therefore my car has to pass through his land. He has informally allowed me to use this road for my car (and tractors etc). Now we are looking at options for joint-ownership of this part of the land which measures 9.5 Guntas. Splitting it into two parts is not an option for two reasons: 1) Half of it will be less than 5 guntas and therefore it cannot be registered as per the current rules 2) Splitting right in the middle will not give us even 10ft width in some parts and therefore not useful for road for either of us. Now I have the following questions: 1) Is it possible to go for me to become a co-owner of this land with my friend? 2) What is the procedure to do this? 3) Do I need to pay some amount to my friend for this transaction? (This question is only a legal one and nothing to do between me and my friend) 4) What are the documents required? Thanks in advance. Raghavendra Bhat