What is a Tax Sale?

Real Estate Dictionary

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(1) Property on which current county taxes have not been paid is "sold to the state." No actual sale takes place. The title is transferred to the state and the owner may redeem it by paying taxes, penalties and costs. If it has not been redeemed within five years, the property (referred to as "tax sold property") is actually deeded to the state. (Similar "sales" to cities take place for unpaid city taxes.) (2) A public sale of property at auction by a governmental authority after a period of non-payment of property tax.