House Purchased but pussestion not taken

Dear Sirs.

I have  Purchased a House in INDORE, but pusestion not taken by me.

The property is mortgaged in SBI after Registry & full payment.

Seller is asking some time ( may be 15 days to six months) to vacant.

In this situation what are the consiqenses & what should i do ?

I am residing presently in rented house.

When u purchase property why u not taken Title certificate or Title Report? Without Bank NOC why u purchase property? Now, u file a criminal case against seller or file a civil suit for possession or u tell seller to pay a amount in bank or give a possession.  

what prevented you from taking advise before entering into the transaction?? now after having comitted a mistake yoru are seeking advice that too without naration of adequate facts.

A sale does not take place without possession is the law. you have not disclosed as what is written about the possession in the sale deed. was it disclosed to you that property was mortgaged with bank. did you made due enquiary about the title of your  vendor owner that property you were to buy was free of all encumberences. If yor vendor concealed the fact from you that his property was mortgaged then he has comitted FRAUD against you for he is liable criminally as well as contractually and you are at option of exercingboth or any of them but you can secure your consideration passed to him ony by filing of civil suit within jurisdiction the property situate,or your vendor reside praying court to declare the sale void on ground of fraud played upon you by the vendor and return of consideration and siam duty and all expences incurred by togather with damages caused to you;

The next alternate is to  compel your vendor  to discharge the debt as soon as possible and take over possession as soon as possible.

And if you jump into the transaction seeking some bargain then you can choose to deposit the dues of the bank on your own and get the mortgatgage redeemeed andretired from your source of money and then file the suit of recovery againt your vendor for money paid to bank .

Mind your vendors' property was encumbered with debt of bank and in law you have purchase both the property as well as debt,so if  you to retain the property,the only course open to you is to deposit the debt and take a discharge /reedemption from bank and its NOC too.

So again it is your option to choose among different courses advised by me to you. 

ONE MORE CAUTION IF YOU  CHOOSE TO AVIOD THE SALE ON THE GROUND OF FRAUD AND WANT YOUR MONEY BACK YOU WILL HAVE TO FILE THE SUIT WITH IN THREE YEARS FROM THE DATE OF KNOWLEDGE OF FRAUD>BETTER EVEN IF YOU FILE SUIT WITH IN THREE YEARS FROM DATE SALE DEED SO THAT NO QUESTION LIMATATION AND TIME BARING DEFENCE ARISES FOR CONTEST IN YOUR MATTER,

hope it goes well with you.

Sirs,

This is not the case, as interpreted.

I have purchased the Property clearing all dues from seller.

Sale deed was registered by paying some cash & photocopy of Bank Cheque.

I have mortgaged the property for home loan.

The EMI is Rs 33400=00 per month started from jun 2011 for 20 yrs.

But possession was not given by seller.

He is asking some time.