Tax lien
A claim a government places on a property for unpaid property taxes. If not paid, the lien can be sold to investors or lead to a tax sale; rules vary widely by state.
Also called: property tax lien, tax lien certificate, tax sale
Related terms
A legal claim against a property that secures a debt, such as a mortgage, unpaid taxes or contractor bills. Liens generally must be paid off or released before the property can be sold with clear title.
A yearly tax set by local governments based on a property's assessed value. Lenders usually collect it monthly through escrow, and rates vary widely by location.
The legal process a lender uses to take and sell a property after the borrower defaults. Some states require a court case (judicial foreclosure), while others allow a faster non-judicial sale under a deed of trust.
Any claim, lien or error in the records that casts doubt on who owns a property. It usually must be cleared before the sale can close.