Is there a three year stature of limitations on property?

Some one bought a house on my husband's name. He took it over and
rented it. The tenants were buying it, all the papers were in and ASC
America's Servicing Compoany /Wells Fargo forclosed on the property
the very day they said it was closed. Is it three years statutes of
limitations?

depends on laws of your state,they do vary.