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tax sale |
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Tax Sale The sale of real estate in order to pay back taxes. In a tax sale, the taxing authority seizes the property for non-payment and then conducts the sale, generally selling to the highest bidder. For example, the IRS may hold a tax sale of a person's house for chronic non-payment of income taxes. tax sale A public sale because of unpaid property taxes.In most jurisdictions, the successful purchaser receives only a tax certificate, which will entitle the purchaser to ask for a tax deed after the passage of the time period specified in that state. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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