Similar to this happens all the time in India. Seller1 sells his property to buyer1 and gives all the property papers after transaction. Before _registering_ th

Similar to this happens all the time in India. Seller1 sells his property to buyer1 and gives all the property papers after transaction. Before _registering_ this property with the government Buyer1 finds another Buyer2 and sells the property. Buyer1 now avoids paying tax which is what registering property is.