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If it meets legal requirements for validity, the deed of trust has no automatic expiration. It will be valid until either the borrower repays the loan the trust deed is security for or if the property is sold in a foreclosure action.

The lender and the borrower together designate who will act as the trustee; both parties must agree with the decision before finalizing the deed of trust. Lenders may use a trustee with whom they are acquainted, so long they are not affiliated. The trustee must also agree to the designation.

A deed of trust has a borrower, lender and a “trustee.” The trustee is a neutral third party that holds the title to a property until the loan is completely paid off by the borrower. In most cases, the trustee is an escrow If you don't repay your loan, the escrow company's attorney must begin the foreclosure process.

Length of Time of Trusts Trusts created under Tennessee law can last for up to 360 years. Under most state laws, a trust is required to terminate after two or three generations. The benefit of a trust being allowed to continue for 360 years is two-fold.

The title deeds to a property with a mortgage are usually kept by the mortgage lender. They will only be given to you once the mortgage has been paid in full. But, you can request copies of the deeds at any time.

The Tennessee State Library and Archives has microfilmed copies of older deeds for every county in Tennessee. The deeds records are arranged by the name of the seller/buyer (grantor/grantee).

The public is able to access documents, such as deeds, birth and death certificates, military discharge records, and others through the register of deeds. There may be a fee to access or copy public records through the register of deeds.

Tennessee requires trustees who hold legal title to secured real property on behalf of a lender to be one of the following: a Tennessee resident; a Tennessee corporation or non-Tennessee corporation whose principal place of business is Tennessee; or. an individual whose principal place of employment is in Tennessee.

In either case, you can contact your local county Assessor with questions about ownership. You can find the contact information for your local Assessor at this link.