Simple Guide to Tax Deed

By dhinternational  /  August 1, 2013 / Comments Off on Simple Guide to Tax Deed

Simple Guide to Tax DeedA deed is a legal document that transfers ownership of a property to an owner.  While a tax deed is a special kind of deed which results from taxes not being paid in the specified time.  So, a tax deed sale is the forced selling of real estate for unpaid taxes that is conducted by the government.

Tax deed is just one of the few strategies utilized by the government to collect real estate taxes owed by delinquent taxpayers.  Before this happens, the taxpayer is given many chances to pay up his back taxes.  Still, after several warnings ignored, the county puts his property in a public auction to interested investors.  Oftentimes, the property is sold for as little as its amount of due taxes, fees, and penalties.

At the auction, the investor with the highest bid wins and receives the deed to the property.  Then, in some cases, the delinquent taxpayer may still have time to redeem his property after the sale.  If not, the highest bidder or investor now becomes the new legal property owner.

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