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Tax
Lien Certificate
A
certificate that is usually sold
at a public auction that
represents the debt, penalties and
interest owed on tax delinquent
property. The
actual physical certificate is
nothing more than a piece of paper
issued by the county to an
investor.
If
the property owner pays off the
tax debt, the certificate is
considered redeemed and the
investor surrenders it to the
county. After
the county receives the
certificate, the investor is paid
the amount of the tax lien
certificate including the interest
due on the certificate.
Depending on the state, these tax
lien certificates offer interest
rates ranging from as low as 8
percent to as high as 36 percent.
Also, in most states, if
the owner never pays off the
certificate, then the buyer of the
certificate (the investor)
receives the property.
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