Tax Lien and Tax sale
Hello,
I was wondering if somebody might beable to tell me what the difference is between a Tax Lien and a Tax sale. Are They the Same? . So far most of what I have been reading is about Tax Lien sales. I live In Texas. From what I understand they have Tax Sales.
thankyou,
Jen - New investor
There are two basic systems - tax liens and tax deeds. In most cases the difference is that a tax lien has a period of time (called the redemption period) when the owner can get it back by paying the taxes. A tax deed is usually a final act - after the tax deed sale the land is gone and the owner can't get it back. Your state (Texas) is sort of combination of both. They sell a tax deed, but it has a redemption period. So it is a tax deed, but has the characteristics of a tax lien. For more information go to www.taxsalelists.com