Tax Sale

Importance: 0.57

Is a company: no

Is a proper noun: no

Synonyms

  • sale of property
  • recover taxes
  • tax collection

Definition of Tax Sale

  1. Property that is sold by the government to recover unpaid taxes.

Related Terms and Acronyms

  • Executor Definition,
    • The person who manages the estate of a deceased individual.
  • Tax Lien Definition,
    • A claim, or obstacle, to the sale of property because of unpaid taxes. The property's title can't be transferred until liens are paid.
  • Probate Sale Definition,
    • Sale of property after the death of the owner, supervised by a court, with proceeds divided among creditors and heirs.
  • Liquidation Definition,
    • To settle the outstanding debts by selling property.
    • To convert into cash.
    • The practice of selling or redistributing some or all of a business's assets in order to repay debts or pay investors if the business becomes insolvent or is sold in full or in part.
  • Bankruptcy (BK) Acronym, Important,
    • A court action under the Federal Bankruptcy Code by which a debtor's debts may be discharged, usually by transferring assets to a trustee, or rescheduled.
  • Receivership Definition,
    • A form of bankruptcy where a person is appointed to take control of a company and is responsible for recouping unpaid debts.
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