What is a tax sale?
A tax sale refers to property (usually real property) being sold by a taxing authority or the court to recover delinquent taxes. Typically these are property taxes, but other entities like utilities sometimes hold the power to take property for unpaid debts.
How long does it take for a tax lien to be removed from credit report?
Even worse, under federal law, unpaid tax liens can remain on credit reports indefinitely, though in practice credit bureaus may remove them after a decade or so. (Once paid and released, a tax lien must be removed seven years from the date it was filed.)
What is a tax deed?
DEFINITION of ‘Tax Deed‘ A legal document that grants ownership of a property to a government body when the property owner does not pay the taxes due on the property. A tax deed gives the government the authority to sell the property to collect the delinquent taxes and transfer the property to the purchaser.
What is a certificate of tax sale?
Tax Certificate Sale. A tax certificate is an enforceable first lien against the property for unpaid real estate taxes. The certificate holder is an independent investor who actually pays the taxes for a property owner in exchange for a competitive bid rate of return on the investment.