Hi,
I've bought a property in Mumbai of which I'm the fourth owner. The flow of possession was as below -
1983 - 1st owner - stamp duty paid, registration done
1990 - 2nd owner - stamp duty paid, registration not done
1999 - 3rd owner - stamp duty paid, registration done
2010 - 4th owner - stamp duty paid, registration done
While purchasing, I had done all the checks as well as gotten a home loan for it from HDFC but the documents had been shown to be clear. However, recently when I was trying to transfer my looan to SBI, I was made aware that the second owner might not have registered the document.
What I would like to know is -
1. What effect can this have ?
2. Will it pose an issue when I try to sell my property ?
3. What can I do to correct this ? I've no idea where the second owner is and whether he is alive or dead or anything.
Kindly advise.