term:

Tax Certificate

tax certificate n

: a certificate issued to the purchaser of property at a tax sale that certifies the sale and entitles the purchaser to a tax deed upon expiration of the period for right of redemption if all taxes and charges have been paid [voided the tax certificate when it was determined that the original owner was exempt from paying the delinquent taxes] called also tax sale certificate compare tax deed at deed

Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.