I am looking for a resale apartment in Bangalore, and last week I found one. The interesting part is that, the owner has entered into an agreement for sale with the builder in 2008. But the sale deed was registered in 2011. Also the Khata transfer was done in 2002. The tax paid receipts are all in the name of the builder. The seller is telling that he had some shortage of money and hence he could not register the property in 2008, and that the property was in his name from 2008 onwards. I am not able to believe this theory.
My questions are:
1) Will there be any legal binding with the builder, if I go with the purchase of the flat.
2) Can there be any other reason why people may do registration very late?
3) More importantly, what all would be the other documents I need to get from him. Right now, I have sale deed, Khata papers, Tax paid receipts, documents describing the land transactions etc.
Thanks a lot