Tax Lien

Definition

• A claim or obstacle that prevents the sale of a property due to unpaid taxes. The property title cannot be transferred until all liens are cleared.

Synonyms
tax collection, hold on assets, tax claim

Related Terms and Acronyms

• Clear Title — Definition,
  • Title not burdened by liens or legal questions.
• Cloud on Title — Definition,
  • A claim on title to property that could impair the ability to transfer ownership.
• Fee Simple — Definition,
  • Outright ownership of real estate, free of any liens or other claims against title.
• Fee Simple Defeasible — Definition,
  • When a person has outright ownership of real estate (free of any liens or other claims against title), but the use of the property is restricted.
• Lien — Definition,
  • A legal hold or claim of a creditor on the property of another.
• Tax Sale — Definition,
  • A government sale of property to recover unpaid taxes.