Definition of "Tax foreclosure"

Steve Kann real estate agent

Written by

Steve Kannelite badge icon

RE/MAX Living

Property taken over by the government because the owner has failed to pay taxes on it. The property may revert back to the owner when the taxes are paid. If not, the government may sell the property to collect the amount due.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Real Estate Terms

Law involving noncriminal issues such as breach of contract, libel, slander, and accidents. ...

A sash window having two vertically moving sashes respectively offset by sash weights. Each sash closes a different part of the window. ...

Drain facility usually underground for waste and water disposal consisting on connected pipes. ...

The net operating income definition is the total profit generated by a business or real estate development after the necessary operating expenses are taken out. In order to determine the ...

Language commonly used in a fee simple title conveyance. The significance is whether the title is clear and can be passed on to the purchaser's estate including all heirs and those who may ...

Amount invested in property in cash. ...

The definition of acquisition cost in real estate is the total cost recorded by a company or individual pertinent to the purchasing of a property. This is the entire amount written down in ...

Percentage of rentals estimated not to be made because of actual and anticipated vacancies. ...

Court or government regulatory order to stop doing something, such as not showing minorities certain neighborhoods. ...

Popular Real Estate Questions