What is a TSG?
A “TSG,” or “Trustee Sale Guarantee”, is a title report given to a trustee to provide recorded information pertinent to the foreclosure process. TSGs assist the lender in a non-judicial foreclosure permitted in some states, such as California.
Foreclosure begins when the borrower (trustor) defaults in their obligation to the lender. Each state may prescribe specific laws about the foreclosure process and required notices. The TSG assures both the lender and the foreclosure attorney against losses incurred (up to the balance of the loan) 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?
Mortgage or Deed of Trust(s) recorded
Encumbrances and liens on the property
Legal description and vesting of title to the property
Property taxes and bankruptcies
City or Judicial District in which the land is located
Names/addresses of individuals/entities who must receive notice of foreclosure proceedings
Newspaper qualified for publication of the foreclosure proceedings
What is the fee for a TSG?
The fee for a TSG corresponds with the liability amount and the schedule of rates as filed with the State Department of Insurance.
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