Glossary of tax lien and tax deed investing terms used on this site
There are 150 entries in this glossary.T
| Term | Definition |
|---|---|
| TAX |
a payment set at an involuntary amount to be paid to a state or federal, imposed for governmental support, there varying types of taxes including, federal, income and state. |
| TAX DEED |
Some states do not sell tax liens. If you are delinquent in paying your property taxes, they sell the deed to your property. Some states that sell tax deeds provide a redemption period in which the owner can redeem his or her property even after it is sold in a tax sale and some do not. |
| TAX DEED SALE |
is the auction or sale of a piece of property where the owner neglected to pay taxes they owed on their property. |
| TAX DEFAULTED |
The status of real estate when the property taxes are unpaid and delinquent. |
| TAX EXTENSION |
The process by which the Tax Collector calculates the tax roll for his/her county. The tax roll. The medium by which the actual tax roll is transferred to printing of the tax bills. |
| TAX LIEN |
a type of lien that has been placed against a property due to the nonpayment of taxes, the claim may be sold |
| TAX LIEN CERTIFICATE |
This is a certificate of sale for unpaid municipal liens, issued by the tax collector of a county or municipality, verifying payment. The certificate lists the certificate number, name of the tax collector, the taxing district, the date of the sale. Also on the face of the certificate is the buyer’s name and address, a description of the property (in New Jersey, its block, lot and address), the name of the property owner, and the amount of the sale. The certificate is not valid unless it is signed by the tax collector and notarized. Keep your tax lien certificates in a safe place. You must sign the back of the certificate, have it notarized, and return it to the tax collector before receiving payment upon redemption by the property owner. |
| TAXABLE ASSESED VALUE |
is the value assessed subtracting any confines or exceptions by the law. |
| TIME VALUE OF MONEY |
The concept that a dollar today is worth more than a dollar in the future, because the dollar received today can earn interest up until the time the future dollar is received. |
| TITLE INSURANCE |
The insurance policy issued by a title company insuring the accuracy of its search against claims of title defects and against loss or damage resulting from such defects. |
| TITLE SEARCH |
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| TOWNSHIP |
Rows of a mapping grid defining six-mile increments of land by township lines. Identified as north and/or south of the Baseline. Example: T6S = Township 6 (rows) South (of the baseline) 36 square mile tract of land formed by the intersection of a Range and Township lines in a map grid. |
| TRUST FUND TAXES |
when a portion of a salary is suspended from an employee's earnings by an employer, and held in a trust fund until repayed. |