unregistered development agreement

Querist : Anonymous (Querist) 23 February 2011 This query is : Open
my client is a developer, wants to enter unregistered development agreement with land owner by giving some amount as good will. land owner kept land documents in bank and he owes some amount to bank. the land owner says that he will remit the loan amount to bank from the amount received from developer and selling his share in the developed property. can a developer can enter in to such transaction or not , if yes what is the procedure or steps to be followed.

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