User:Vtaylor/Financial stories/Real estate, property
Real estate, property
- Tax lien certificates represent the last attempt by the ‘crats to collect the taxes due on a piece of property. When all else fails, the ‘crats encumber the property with a lien in the amount of the unpaid taxes. They then sell the lien and the right to collect the unpaid taxes to a third party investor. This means the ‘crats get at least some money and no further hassle trying to collect. Basically the third party investor is now a collection agency.