Is it permissible to specify a later maturity date on the deed of trust than stated on the note for which the deed of trust is collateral?
For example, a 12 month note is issued for a construction loan. Just to be prudent, in the event that there are delays in completion, could the deed of trust have, for example, a 24 month maturity date? At the end of the 12 months, if more time is needed, could you then do a modification/extension without having to record the modification/extension document as long as the stated new maturity date does not exceed the date specified in the deed of trust originally? Taking this a bit further, could your deed of trust maturity date be, for example, 20 years later, just to provide for a case in which the builder might elect to retain the property for rental purposes? Thank you for your time and assistance.

You really need to be discussing this with legal counsel. But this tells me that a deed of trust expires when the debt is paid or matures unless there is action to collect the debt or the debt and the deed are subsequently extended. You cannot just have a naked lien on the property. SInce you would have to have any modification to the current loan signed by the customer, customarily (I believe) an extension of the deed of trust is signed at the same time for recording.

I am not sure what you are attempting to accomplish.

2019 Tennessee Code
Title 28 - Limitation of Actions
Chapter 2 - Limitation of Real Actions
§ 28-2-111. Period of validity of liens -- Extension.
Universal Citation: TN Code § 28-2-111 (2019)

(a) Liens on realty, equitable or retained in favor of vendor on the face of the deed, also liens of mortgages, deeds of trust, and assignments of realty executed to secure debts, shall be barred, and the liens discharged, unless suits to enforce the same be brought within ten (10) years from the maturity of the debt.

(b) Subsection (a) shall not apply to lands sold for school purposes, whereon liens have been retained for the payment of the purchase money, nor to persons under disability, until three (3) years after the removal of the same.

(c) Original liens on realty retained in favor of vendors on the face of a deed, also original liens of mortgages, deeds of trust, and assignments of realty executed to secure debts, may be extended without their priority or legal effectiveness being in any way impaired, for any period of time agreed upon and beyond the ten-year period from the maturity of the obligation or debt, as provided for in subsection (a); such extension shall be evidenced by a written instrument, which shall, prior to or within ten (10) years from the maturity of the obligation or debt, be duly executed and acknowledged and be filed for record with the register of the county in which the realty affected is located and be there recorded, all in accordance with the statutes of this state in that regard; and when so filed for record such instrument of extension shall be constructive notice to all persons, as provided by the registration laws of this state; and such instrument shall contain a brief recital of the facts with reference to the original lien and shall provide that the lien shall continue, for a definite period of time in the future, to secure the remaining obligation or debt due under and secured by the original lien, and it shall not be necessary that there be any increase or decrease in the terms of the original obligation either of principal or interest.