Title †A Real Estate Term Title is a legal document that establishes the evidence of ownership. Title is a also said to be the legal real estate term for a set of rights on a piece of real estate property in which the owner may own either a legal interest or an equitable interest. All the rights can be separated and held by different parties. The property can be transferred from one person to another person but only upon the conveyance of the document. Tenancy in Common Tenancy in common is said to be one of the form of concurrent real estate in which each owner is said to be a tenant and all of them own a separate, distinct shares from the same property. Here, all the co owners own equal shares, but their interests may differ in size. Tax Deed Sale Tax deed sale is a forced sale conducted by the government authority on a real estate for non payment of taxes. There are two methods for government agencies to collect the offending taxes on a real estate. One is tax deed sale and the other is tax lien sale. Tax deed sale is conducted when the owner stands default in paying the tax of a real estate within a specific period. At first a notice is sent to the property owner and to the others who hold interest on the particular piece of property and if they fail to pay the required tax then the real estate property is called for sale upon public auction. Tax Lien Sale Tax lien sale is the other form of sale conducted by the government authority on a real estate to collect the offending taxes. In a tax lien sale the lien is offered to the potential investors at the public auction. The lien consists of offended taxes, increased interests and costs that are associated with the sale. Today, these types of auctions are more popular on internets as this helps the non local bidders to participate in the auction. If more than one individual seeks the same lien in this auction, then depending on the state of law the winner will be declared basing on the below said methods: â€Bid down the interest Under this method the government authorities fix a certain rate of interest and it is said to the maximum rate of interest. Here, the investor who accepts the lowest rate of interest will be the new owner of the concerned real estate property. â€Premium The real estate investor who is willing to pay maximum premium is declared as winner. The premium may or may not earn interest and may or may not be paid back to the investor upon the recovery of the lien. â€Random selection In this method the bidder will be selected randomly from a group who participate in the bid. Usually, in these days a computer may select the potential bidder. â€Rotational selection In this method the lien for sale is offered to all the bidders in a rotational basis starting from bidder number one. The investors may not have a virtual control over the liens in this bidding process. Only they can choose to take or refuse the offer. â€Bid down the ownership The investor who shows his interest in purchasing the lien at the lowest percent of encumbrance on the property will be awarded.
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