Tax Lien

Definition

  • A claim or obstacle that prevents the sale of a property due to unpaid taxes. The property title cannot be transferred until all liens are cleared.

Synonyms
tax claim, hold on assets, tax collection

Related Terms and Acronyms

  • Clear Title Definition,
    • Title not burdened by liens or legal questions.
  • Cloud on Title Definition,
    • A claim on title to property that could impair the ability to transfer ownership.
  • Fee Simple Definition,
    • Outright ownership of real estate, free of any liens or other claims against title.
  • Fee Simple Defeasible Definition,
    • When a person has outright ownership of real estate (free of any liens or other claims against title), but the use of the property is restricted.
  • Lien Definition,
    • A legal hold or claim of a creditor on the property of another.
  • Tax Sale Definition,
    • A government sale of property to recover unpaid taxes.
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