It identifies all properties and indicates their assessed values. TAX SALE the sale of property after a period of nonpayment of taxes. The grantee receives a tax deed. In most states the defaulting party has a redemption period during which he may pay the unpaid taxes, interest, court costs, and the purchase price to redeem the property. The investment may produce before-tax cash flow while generating losses to shield, from taxation, income from sources outside the investment.
TAX STOP a clause in a lease that stops a lessor from paying property taxes above a certain amount.
It is an incentive to encourage borrowers to accept adjustable-rate mortgage loans. In general, the interest rate reverts to the fully indexed rate at the first adjustment date. May refer to ownership or occupancy. The tenant may decide to leave the property at any time or must leave at the landlord's will. Agreement may be oral or written.