Posted by Nate(DC) on October 14, 2003 at 14:04:21:
Once it’s recorded, it’s in the public records forever. The real question is, how long before a title insurer is comfortable that it no longer is something to be worried about, and will insure over it? That I don’t know. I suspect after long enough, if you have done nothing to enforce your contract, one could reasonably conclude that it was not valid.
As to the second question - the seller could file a quiet title lawsuit to clear title.