Definition of "Tax lien"
Claim made by a federal or local government agency against a taxpayer's property for delinquent or overdue taxes. The tax lien is effected through tax assessment, demand, and failure to pay. In some cases, a lien may be applied to property held by a third party. One the taxes are paid, the lien is released.
Popular Real Estate Terms
Note having more than one maker, if one or more of the makers default on the note, all makers are sued jointly, rather than just one or all, to make restitution ...
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The landing at the bottom and/or top of a stair case providing support for the structure. ...
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