I have bought a resale flat with bank loan on 5 Feb 2009.
The seller had a home loan on the property
Registered the agreement to sale by paying full stamp duty in 14 Jan 2009 with promise to pay remaining amount within 2 month.
Applied for a bank loan and got the cheque for previous loan foreclosure and of remianing amount to seller.
Now the seller is asking to handover the remaining payment cheque issued by bank on unregistered sale deed.
He is orally agreeing to register the sale on in first week of April as he can postpone paying capital gain tax in assessment year 2010-11.
Seller is also ready to give posession of the flat on unregistered deed.
The original propery documents of the seller are already attached to my home loan case.
Will it be safe to do the unregistered sale deed upon full payment with possession on the oral promise to register the same in future.
Wil the unregistered deed will hold any legal validity as I made full payment and got possession?
I will appreciate your openion on this