tax title

Definition of "tax title"
  1. A designation obtained by someone who buys property through a government-sponsored sale due to the original owner's failure to pay taxes
How to use "tax title" in a sentence
  1. Due to non-payment of property taxes, the local authority conducted a sale, and the buyer received a tax title.
  2. The property holder through tax title can later sell the property to recover the forfeited tax amount.
  3. As the previous owner failed to pay property taxes, a private investor gained a tax title by purchasing the property at the government sale.

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