Real Estate Law
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I do not believe you would be able to enforce the promissory note or foreclose it against the property. The statute of limitations to enforce the promissory note in Nebraska is 5 years. From your recitation, it appears no payment has been made on the note for at least 10 years.
If the statute of limitations has expired, then the debt cannot be enforced and the lien could also not be enforced. If this is the case, then the proper person or persons to contact would be the original borrowers. Title to the property could possibly be obtained from them.
It is possible that the effect of the bankruptcy was to transfer "title" of the property back to the lender. This would be unusual, but is still possible. So, my answer is contingent upon someone's review of the bankruptcy to determine if title was reconveyed to the lender.
Please let me know what follow up questions you may have.