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Title – A Real Estate Term
Title is a legal document that establishes the evidence of ownership. Title is a also said to be the legal real estate term for a set of rights on a piece of real estate property in which the owner may own either a legal interest or an equitable interest. All the rights can be separated and held by different parties. The property can be transferred from one person to another person but only upon the conveyance of the document.
Tenancy in CommonTenancy in common is said to be one of the form of concurrent real estate in which each owner is said to be a tenant and all of them own a separate, distinct shares from the same real estate property. Here, all the co owners own equal shares, but their interests may differ in size.
Tax Deed SaleTax deed sale is a forced sale conducted by the government authority on a real estate for non payment of taxes. There are two methods for government agencies to collect the offending taxes on a real estate. One is tax deed sale and the other is tax lien sale.
Tax deed sale is conducted when the owner stands default in paying the tax of a real estate within a specific period. At first a notice is sent to the property owner and to the others who hold interest on the particular piece of property and if they fail to pay the required tax then the real estate property is called for sale upon public auction.
Tax Lien Sale
Tax lien sale is the other form of sale conducted by the government authority on a real estate to collect the offending taxes. In a tax lien sale the lien is offered to the potential investors at the public auction. The lien consists of offended taxes, increased interests and costs that are associated with the sale.
Today, these types of auctions are more popular on internets as this helps the non local bidders to participate in the auction. If more than one individual seeks the same lien in this auction, then depending on the state of law the winner will be declared basing on the below said methods: