You should make a surety agreement that is like mortgage of property on your loan given. Kindly mention all details in the agreement. For example: Loan Amount, rate of interest, period of loan, repayment schedule, and all terms and conditions. 

1. you should not have entered into two agreements,

2. since the loan agreement is executed on 1st feb and the agreement to sell on 29 feb, therefore, the second i.e. 29 feb agreement will prevail subject to mentioning of earlier agreement in it.

i am presuming you had not mentioned regarding the previous agreement in the second one, therefore, you are at risk,

3. give copy of the sale agreement only, avoid/destroy the loan agreement 

1) your friend has sold flat to you by registered agreement for sale 

2) payment of Rs 20 lakhs was sale consideration and not loan 

3) registered agreement would prevail over loan agreement 

4) give copy of only loan agreement 

1. See it is not illegal as such as on face they are two different agreements.

2. See the agreement to sale for property is registered you can file specific performance of same .

3. Give him the copy of agreement to sale only.

1. ONLY the Registered Sale Deed is legally enforceable in law, during dispute in courts.  Unregistered Deeds for any immovable or immovable property is null & void.

2. Photocopy of registered sale deed, may be given to the other party, without any legal hitch. 

1. See if the other party fails to register on time as mentioned in agreement on expiry of time period of agreement you can issue a legal notice thereafter file suit in court.

2. No it cannot be cancelled.

3. See since the agreement of sale is registered it will reflect in registrar office records so bank.shall not mortgage it.

Suit for specific performance has to be filed within period of 3 years of refusal to execute sale deed 

2) unilateral cancellation of sale deed is not permissible 

3) he cannot  mortgage the property as registered agreement for sale has been executed by him 

Getting notorise on back date is illegal but only when it comes out. 20 lacs amount given is proved by both agreements. Both agreements are for legal purpose and either of them enforceable through court preferably executed at earlier date.

He may arrange both copies. Provide ATS copy if you want to buy house.

3 years.

Unilateral cancellation not permitted, you should ask him to deliver original sale deed of property.

3. What if he applies for a property loan by mortaging this flat/property? - He can, than you have to file suit in court to obtain stay. 

1. There's no legal impediment in it because they both are different documents. 

2. No

Both can be enforced on it's strength. 

3.  You may better avoid giving copies  of  both the documents. 

1. You can file a suit for specific performance of contract immediately if he's not agreeing to perform his part of contract at that time. 

2. No, he cannot. 

3. You should obtain the original property documents now itself to avoid such mishaps. 

It's not proper to enter into 2 agreements for same loan only one from the same willl be entertained

You can give xerox but only one from the same will be effective

It will be challenged in court in the above case

Registered agrement to sale is valid.

20lakh rupees was amout sale consideration as per agreement.

You can ask to execute the sale deed at any time within 3 years after lapse of 4 months.  you may issue notice to the seller to execute the sale deed.

You can give him Xerox copy.

the failure to comply the terms of agreement  on the part of seller will be resulted is  force to sell the property under specific performance through a court of law.  or return the advance amount if speficied in the agreement.

if it is a registered agreement, a deed of cancellation will have to be executed by both the parties. 

If Agreement is registered seller cannot mortgage the property.

1) They are two different agreements.

2) No, Agreement of Sale has more leverage as it has been Registered.

3) You can share copy of AOS.

1) Three  years time you will have from date of refusala, you need to show your readiness and willingness to pay balance sale consideration.  Word of caution, maintain the said 15 lakhs amount BALANCE in your bank account.

2) No he cannot cancel it.

3) He is not mortgage the said property which is registered in you name through AOS

1. No it is not illegal to enter into two different agreement for one loan but you can use only one agreement to recover your loan. 

2. It depends on the situation that how you represent both agreements. 

3. You can provide him copy of both agreements 

1. You can file suit for specific performance with in three years from the date of expiry of agreement.

2. Yes but he have to send you a notice for cancellation of agreement.

3. Yes he can put his property as mortgage but your agreement will prevail over the mortgage deed.