Tax Foreclosure
/ˈtæks fɔːrˌkloʊʒər/
Definitions
- (n.) A legal process by which a government seizes and sells property due to unpaid property taxes to satisfy the tax debt.
The city initiated a tax foreclosure on the abandoned house after years of unpaid taxes.
Forms
- tax foreclosure
- tax foreclosures
Related terms
See also
Commentary
Tax foreclosure is distinct from mortgage foreclosure in that it arises from unpaid taxes, not loan defaults; precise statutory procedures vary jurisdictionally.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.