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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] A Trustee's Sale Guaranty is not akin to title insurance... Posted by Ward-CA- on January 18, 2004 at 6:21 PM In Reply to: Re: will try posted by DARRYL-CA on January 17, 2004 at 11:47 PM : : : Prior to a trustees sale title insurance companies issue a Trustees Sale Guarantee (TSG). A (TSG) is a special title report, for trustees only, that discloses all items pertaining to the ownership interests and encumbrances on a property in foreclosure.It's also a contract of indemnification that protects the trustee and the beneficiary from the consequences of any title record error in their foreclosure proceeding. : Given the preceding, knowing the judgement is a junior lien as it relates to your property and understanding that a foreclosure is nothing other than an involuntary forced sale, isn't it possible that there is some language which effects coverage in a standard (TSG) policy that protects the trustee and beneficiary against lost due to the involuntary forced sale in the event that litigants pursue claims against their insured (the trustee and beneficiary ) which may also be purchased ( the language which effects coverage) as additional coverage in your buyers' policy thereby establishing clear and marketable title....the same result as if the property was foreclosed upon? =?=?=?=?=?=?=?=?=?=?= Darryl, Yes, the TSG is a special title report that lists and reports to a foreclosing trustee a lot of information pertinent to processing a foreclosure...but it is not, in any way, shape or form a title insurance policy. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : : : Prior to a trustees sale title insurance companies issue a Trustees Sale Guarantee (TSG). A (TSG) is a special title report, for trustees only, that discloses all items pertaining to the ownership interests and encumbrances on a property in foreclosure.It's also a contract of indemnification that protects the trustee and the beneficiary from the consequences of any title record error in their foreclosure proceeding. : : Given the preceding, knowing the judgement is a junior lien as it relates to your property and understanding that a foreclosure is nothing other than an involuntary forced sale, isn't it possible that there is some language which effects coverage in a standard (TSG) policy that protects the trustee and beneficiary against lost due to the involuntary forced sale in the event that litigants pursue claims against their insured (the trustee and beneficiary ) which may also be purchased ( the language which effects coverage) as additional coverage in your buyers' policy thereby establishing clear and marketable title....the same result as if the property was foreclosed upon? : =?=?=?=?=?=?=?=?=?=?= : Darryl, : Yes, the TSG is a special title report that lists and reports to a foreclosing trustee a lot of information pertinent to processing a foreclosure...but it is not, in any way, shape or form a title insurance policy. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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