What is agreement in possession in ec

So many abbreviations and presumption can not help to form proper opinion and oblige, re-draft and post true facts.

35 years old agreement to sell without a sale deed do not confer / transfer title of the subject property.

It would be appropriate to consult a local prudent lawyer for proper appreciation of facts and circumstances and professional advise.

What is the actual issue now, when the agreement of 1987 spent out limitation period and the alleged purchaser has not paid full amount, not secured sale deed, not taken possession and was silent since 1987?  Have you leased the land after such agreement through a registered lease agreement and was receiving lease rentals in your name?

The agreement was time barred and even if there are some more facts not stated, the agreement remains sham and nominal.  It appears to me ( I may be wrong) that the lessee is not a bank, and the land was leased to the establishment of a petrol bunk, and the purchaser might have used the agreement to sell for getting dealership as oil companies allot dealership on such agreements..  Bank never takes land for lease for such long periods. 

You have stated that it was agreement for sale under which you received the full consideration and possession was given to the buyer. Thus the buyer has obtianed possessory title to the property. You have not stated whether the agreement stipulates any time limit within which the sale deed to be executed. Nevertheeless, the buyer can demand execution of sale deed and register it. You should comply with the demand without entring into any dispute and complete the transaction. I feel in this case no limitation should be pleaded. 

The facts are confusing and details must be posted as to how a bank can advance amount against the security of an agreement to sell only and what are the specific reasons for not registering the sale deed, in 34 years, and who is in possession and enjoyment of the property all the 34 years. Why the agreement should not be considered as sham and nominal.

The facts posted are confusing and even disjointed; it is not even clear whether the querist is the seller or the buyer and whether he is in possession.