Tax Certificate

Definition:   a document issued to a person as a receipt for paying the delinquent taxes on real property owned by another, entitling the person to receive either the delinquent taxes plus interest from the legal property owner, or a deed to the property if the property is not redeemed within a certain period of time

Pronunciation:   \(ˌ)sər-ˈti-fi-kət\

Used in a Sentence:    At auction, any qualified person is eligible to bid for the tax certificate on any property.

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