What is a TSG?
A “Trustee Sale Guarantee”, commonly referred to as “TSG”, is a title report given to a trustee to provide recorded information pertinent to the foreclosure process. The TSG assists the lender in a non-judicial foreclosure permitted in some states such as California. The foreclosure process begins when the borrower (trustor) defaults in the performance of their loan obligation to the lender. Each state may prescribe specific laws as to the foreclosure process and required notices. The TSG assures both the foreclosure attorney and lender against losses incurred up to the loan balance as a result of errors in the TSG.
When is the TSG ordered and how long does it take?
The TSG is ordered and issued at the start of the foreclosure. Lawyers Title provides the report typically within 2-3 business days.
What information is included in a TSG?
Legal description and vesting of title to the property
Mortgage or Deed of Trust(s) recorded
Encumbrances and liens on the property
Property taxes and bankruptcies
Names/addresses of individuals/entities who must receive notice of the foreclosure proceedings
Newspaper qualified for publication of the foreclosure proceedings
City or Judicial District in which the land is located
What else can Lawyers provide to the foreclosure agent or lender?
Title issue and lien resolution
Multiple title updates in most cases
Property research and documents for bankruptcy relief motion preparation
Recording of all documents pertinent to the process
Electronic report access and delivery
Centralized processing for TSGs throughout California and most other states.
What is the fee for a TSG?
The fee for the TSG corresponds with the liability amount and our schedule of rates as filed with the State Department of Insurance.
Why use Lawyers Title for my TSGs?
Lawyers Title offers stability, service, strength and security. As part of the FNF (Fidelity National Financial, Inc.) family, we are backed by the largest title insurance group in the world, offering our clients over $1.6 billion in title claim reserves.
Source: Lawyers Title
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