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Tax Deed

 

The type of instrument given to a Grantee by a government that had claimed the Property for unpaid taxes.
Example: The city acquired a Parcel of land because the former owner failed to pay Ad Valorem taxes. The city then auctioned it. Baker, the highest bidder, received a tax deed as evidence of ownership.

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Accounting Dictionary: Tax Deed
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Document evidencing the passage of title to a purchaser of property sold for taxes. The tax deed is issued upon foreclosure of the property lien. Typically, there is a grace time period permitting the owner to make good on the delinquent taxes in order to redeem the property.

Law Encyclopedia: Tax Deed
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This entry contains information applicable to United States law only.

A written instrument that provides proof of ownership of real property purchased from the government at a tax sale, conducted after the property has been taken from its owner by the government and sold for delinquent taxes.

 
 

 

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Real Estate Dictionary. Dictionary of Real Estate Terms. Copyright © 2004 by Barron's Educational Series, Inc. All rights reserved.  Read more
Accounting Dictionary. Dictionary of Accounting Terms. Copyright © 2005 by Barron's Educational Series, Inc. All rights reserved.  Read more
Law Encyclopedia. West's Encyclopedia of American Law. Copyright © 1998 by The Gale Group, Inc. All rights reserved.  Read more