Definition
Official document issued by the taxation authorities. It serves as the evidence of conditional transfer of the title to a property sold for non-payment of taxes (tax sale). If the property owner fails to redeem the property within the statutory redemption period (by paying off all taxes and charges), the purchaser can foreclose on the property to obtain tax deed. Also called tax lien certificate.
Related Articles
- Finding and Executing the Best Real Estate Deals *
- Bond Mutual Funds *
- Types of Accounts Typically Offered by Banks *
- Leading Economic Indicators Explained *
- What is a Credit Union? *
- Sizing up a Financial Advisor *
- What International Exchanges Exist For Futures? *
- "Buy Condor" Stock Option Investment Strategy *
Related Videos
http://www.businessdictionary.com/definition/tax-sale-certificate.html
