Under a trustee's power of sale, how long does the right to foreclose a trust deed last?

Under a trustee's power of sale, the right to foreclose a trust deed typically lasts indefinitely, meaning it can be exercised at any time. This is because a trust deed is designed to secure a loan, and as long as the underlying obligation remains enforceable, the trustee has the authority to initiate foreclosure proceedings if the borrower defaults.

The reasons for this indefinite power are rooted in the nature of trust deeds themselves, which serve as a legal mechanism to protect lenders by allowing them to recover their loan amount through property sales in cases of borrower default. Therefore, since there is no specific time limitation that extinguishes the trustee's ability to act, the notion that the right could expire after a certain number of years, as outlined in the other options, is incorrect.

Essentially, the perpetual nature of the trustee's power underlines the importance of fulfilling the obligations set forth in the trust deed, as failure to do so could result in foreclosure proceedings being initiated at any time while the loan is still outstanding.