thanks)

'from time out of mind' might come from the Lord of the Rings, yes. It means 'a long time ago.' I guess from a time when the mind was not there to think about it. It is a literary way of writing and is rarely used.

I red this from one book....''The Bagginses had lived in the neighbourhood of the Hill for time out of mind''

I've never heard of the phrase "for time out of mind" but, "long ago" just means something that happened in the past. You are stating it happened in the distant past. Don't worry about the first phrase because most likely you won't hear it and everyday speech. Hope that helped.