I am planning to buy a plot in NOIDA. I would be the third owner of this plot in case I buy it.

The first person who was allotted this plot way back in 1991 lost all his papers (Lease deed included). However he logged an FIR on 2010 about the lost of his papers.

The second person (from whom I am planning to purchase) purchased it in 2011 and he does have all his documents including Transfer memorandum and transfer lease deed. Further for security purpose, he also has published in newspaper stating the lost of his papers.

My questions

1. Can I avail home loan on this property?

2. Is there any chance of dispute on this property?

3. Also, is there anything (any formality/papers/..) that I should do to safeguard my interest?

Thanks in advance, any help would be much appreciated.