Hello Lawyers,
Its been an year now...
1. We enquired a property and got it verified by a lawyer who insited us to go with registered agreement as the property was mortgaged by Builder to Bank
2. We enquired Bank about the Builder's process of payment and releasing the flats for which Bank responded, 'NOC as per Builder's payment and is flat by flat'
2. We booked the apartment with 'normal' sale agreement for a duration of 3 months (Dec - Mar) as the Builder promised to clear the dues per flat and get the respective NOC for registration process
2. Meanwhile, we completed the interiors of the flat wassuming we'll get the NOC from Bank
3. But, I heard that Bank had given a deadline to clear the dues (some agreed lumpsum amount) by March 2024 but, unfortunately builder couldn't clear the dues by then
4. Bank has stopped giving NOC and started a case on builder to recover the amount from builder
5. When I enquired, Bank is threatening and claiming that they have order to recover the flats and auction them (which I believe is 'not true' as they insited me to raise a complaint on Builder so that Builder will visit the Bank)
6. Builder in-turn has come up with a 'stay' for Bank's move and later I heard that Bank has started with another case on Builder which is on-going
7. When I enquired a police, they suggested us to stay in the flat and raise a complaint on Builder saying 'Builder is not regering the flat'
Questions,
- Can I stay in that flat with a complaint on Builder for not registering in my name
- Will Bank give any problem for my stay as they own the flat
Please clarify with any other consequences