A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
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When a two or more people share ownership in a property. This is common in those states which follow the bidding down the percentage ownership type of lien certificate sale.
Essentially a partnership on a project or investment. In real estate usually one person will find the deals and the other will provide the funds or credit and both will share in the proceeds of the deals.
When a foreclosure is executed via court action. Several states require this type of foreclosure in order to quiet title.
An encumbrance or lien on the property which is less than the first lien. Generally the mortgage is the senior lien or in first position until the owner defaults on the property taxes in which case the tax lien certificate takes first place.
L
An agreement between the owner and the potential buyer where the buyer may live in the house and has the option to purchase the house before a given expiration date for a specified price.
A claim or encumbrance recorded on a property for payment of a debt or outstanding obligation.
An auction held by the county or municipality to sell a tax lien certificate on a property which has an owner who is in default on the property taxes due.
Generally referred to as Tax Lien Certificate. It is a note issued by the county to the successful bidder at a tax lien auction or sale.
A lien or notice filed to alert potential buyers that a legal action has been filed and somehow it involves this property.
