i have bought a flat in mumbai for Rs. 1,20,00,000/- on the day of registration i was told the flat is mortaged with a bank and due to non avaibility of original documents ( it was with the bank)with the seller he attached an affidevit that he has taken a loan and he will pay the bank after i pay him. i had to do the registratation as stamp duty was already paid and it was last day of 1 year period or i would had to pay 8-9lacs more.
1. After the registration i paid 70L to the seller and balance being the bank loan amount.
2. i have taken loan from same bank where the flat is mortaged i received the approval letter.
3. Now the seller is not paying 70L to the bank as he has used it elsewhere and he is saying i will pay..its been 3 months.
4. when bank called him he is saying i am paying your emi on time so there is no fraud.
5. i got the possesion and keys, can i go and stay there?
please advise what can be done from my side ? also if he defaults will bank take possesion of my house? As during title search there was no record of mortage with the registrar office..
your advise will be helpful..