When NC property taxes are overdue, the county may begin the 'tax foreclosure' process. Before the property can be sold at tax sale, the owner typically has the right to:
Why Redeem the property by paying delinquent taxes, penalties, and interest before the final sale is confirmed Is Correct
Answer B: Redeem the property by paying delinquent taxes, penalties, and interest before the final sale is confirmed
Exam Tip: Escrow & Title
Escrow questions test the neutral third-party role and the sequence of closing events. Remember that the escrow agent acts as a dual agent for both buyer and seller and cannot advocate for either side.
Key Escrow & Title Terms in This Question
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Key Terms to Know
A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Right of First RefusalA contractual right giving a party the opportunity to match any offer received before the owner can accept it from a third party.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Transfer TaxA tax imposed by state or local governments when real property ownership is transferred, typically based on the sale price.
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