Mortage deed without possession

In my advise it is not safe without possession, the documents are executed in registered office. The remedy of the mortgagee was only for enforcement of payment failing which by way of decree for sale and such relief could have been claimed only within 12 years from the date when the money became due. Though your Vendor is in possession, there is no bar to alienate the property to third parties and to execute Sale Deed. But your sale deed is valid upto the beyond due amount to the bank. Unless your vendor clears the bank due he is not going to get perfect title on the said property. 

What do you mean by"But in 2008 the current owner registerd the property from the previous owner before mortage deed without possession"