Q: If a bank fails to foreclose on an unpaid mgt after 10 yrs in Tennessee am I free and clear to sell the property?
Vacant land.
A: No, unless you can sell by Quit Claim Deed. The Deed of Trust is probably recorded and will be a Lien in a title search. The SOL on the underlying Note probably needs a few more years as it runs from the last payment made. You might be able to clear the Title with a Quiet Title Action, but finding an old noteholder can be difficult, usually requiring publication notice. Are taxes being paid? If not, tax sale will be imminent.
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