we are 5 co-owners of a property which has come to us by will . I have bought the ownership from 3 of the owners. So I am now 4/5th owner of the property. Unfortunately the 5th co-owner is not co-operating. All pricing was agreed verbally. Certain monies were given on good faith ( all in cheque). Now this co-owner has demanded 25% hike. I agreed to it also. But everytime the co-owner changes his stance . He is also now saying that he will mortgage his share to an outside party. This will mean a new person ( not from our family) becomes co-owner. He is also not contributing in society charges, electricity costs etc. Since it is family, i have not made any issue about it.
Legally speaking:
a) Can I stop my co-owner from mortgaging the property to an external person, or selling his share to a 3rd person.
b) Please advise how can i pressurise him in all legal ways to sell his share to me.
c) The co-owner has no children. He is threatening to give his share by will to somebody outside the family. Can I prevent that ?
Expert guiadance and opinion on this matter will be appreciated. The property and family is Mumbai based.
