TAX LIEN CERTIFICATE
Certificate of claim filed by a tax authority against the taxpayer’s property which fails to pay the total amount of taxes owed. In most counties and municipalities in the United States, these are commonly sold to investors through auction. Tax liens is the precedent of all other liens on the property. The tax lien certificate specifies the outstanding taxes and penalties on the property, allowing the investor to collect unpaid taxes plus existing interest rate applicable to these certificates, usually between 8% and 30% depending on the jurisdiction. Its term lasts from one to three years.
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