It is compulsory to get the Sale deed registered. An unregistered Sales deed has no value in the eyes of law and does not pass any title to the buyer. This means that you will not be considered a true owner of the property and you will not be able to avail any loan over it. Your legal heirs might also face the same problem later on. What you need to do is locate the Developer and get him to execute a sale deed in favor of the first buyer. If you cannot find the developer himself, look for his legal heir.
One thing to note is that in your case, the person to whom you refer to as the second buyer might not actually be a buyer, per se, if there was no sale of the property from husband to wife. A sale must involve consideration (price). This is devolution of property to the legal heirs of the deceased, in which case there must be a Relinquishment Deed from the legal heirs in favor of the wife of the deceased.
In the absence of the sale deed, you will need to obtain a Deed of Confirmation. If you cannot find the developer or his legal heirs, then you will have to ask the wife of the first buyer to file a declaration suit to declare her title to the property on the basis of the registered sale agreement pleading that the whereabouts of the developer is not known hence the title to the properties may be declared in her name. Once that is done, you can buy the property from her, which can be registered later on to get a title document in your favor.
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about 4 years ago