tax sale
(redirected from Sale Prohibited)Also found in: Legal.
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.