I believe NC is a deed of trust state and has a 10-year statute of limitations so if the 2nd DOT was originated in 1995 when the property was purchased and had a 15-year maturity the debt matured in 2010 and should have been time barred as of 2020 unless there is something of record indicating the DOT was modified to extend the date of maturity. 

When there is a loud enough outcry, legislators will pass laws to regulate REI and LL/T industry.Given the number of posts on this forum stating fact patterns that turn the stomach, I am completely not surprised by the statutes on the books and proposed in most states. 

I second Alison Brenner check your state statutes I've encountered this in PA and obviously we have no actual facts like how do you even know a PO exists? 

I think not.Missouri, for one, has no such statute.

Another thing, those who like to look up statutes and decide for themselves if they are compliant with laws.

In bold is a NJ statute regarding notification (or lack thereof) of security deposit information and the penalty assessed when landlord fails to notify and cure.

This is written into the insurance statutes in every state.

Participate in a real property trade or business as defined by the statute.2.

If you are referring to a Land Trust, the handful of states with a Land Trust statute often d have some variation in both the statutes and features of the Land Trust.

If you choose that route, you will have to read your state statutes and make sure you stay legal not only with those but Dodd-Frank.