lien sale
Definition
A sale conducted by a governmental agency when a property owner has failed to pay the real estate taxes due. The agency places a lien on the property equal in value to the taxes due and proceeds to conduct a lien sale in order to collect these monies. The lien may be bought by an individual or entity by paying the monies due. The lienholder will not have ownership but continues to pay the taxes for the time it holds the lien, and can collect a surcharge and interest on the payments from the property owner.
Related Articles
- Different ETF Investing Styles *
- "Bull Spread" Stock Option Investment Strategy *
- Types of Accounts Typically Offered by Banks *
- A Safe Retirement - Custodians, Rollovers, and IRAs *
- The Impact of International Economics *
- Common Forex Scams *
- Dollar Cost Averaging Stock Strategy *
- Credit Fraud and How to Protect Yourself *
Related Videos
http://www.businessdictionary.com/definition/lien-sale.html
