Escrow & Title
In Louisiana, a 'tax sale' occurs when:
AA property is sold by the owner to pay off tax debt voluntarily
BThe government sells a property (or tax certificate) at auction because the owner failed to pay property taxes for a specified period✓ Correct
CThe IRS seizes and sells a property for income tax debt
DA tax credit is sold to a developer
Explanation
In Louisiana, when property taxes are delinquent, the parish sheriff may sell the property (or a tax certificate) at a tax sale — a public auction to collect the unpaid taxes. The property owner has a right of redemption after the tax sale.
Related Louisiana Escrow & Title Questions
- In Louisiana, a 'tax certificat' (tax certificate) obtained at closing verifies that:
- An 'act of sale' in Louisiana real estate is equivalent to which document in most other states?
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- What is a 'cloud on title' in Louisiana real estate?
- In Louisiana, the 'law day' in an older mortgage refers to:
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- In a Louisiana closing, the 'closing statement' (settlement statement) provides both buyer and seller with:
- In Louisiana, real estate closing costs are typically prorated between buyer and seller as of the:
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