Glossary
Florida tax deed terms, in plain words
Tax certificate
A lien sold by the Tax Collector when property taxes go unpaid. The buyer pays the tax and earns interest if the owner redeems.
Tax deed
The deed issued to the highest bidder at a clerk's public auction after a certificate holder applies.
Tax deed application
The request a certificate holder files through the Tax Collector, which starts the road to a sale.
Opening bid
The amount needed to cover the outstanding taxes, interest and the costs of the sale.
Deposit
A nonrefundable 5% of the bid or $200, whichever is greater, due at the time of sale.
Redemption
Paying what's owed so the sale doesn't go ahead.
Surplus funds
Money left when a property sells above the opening bid. Also called overbid. Claims have a 120-day deadline.
Lands available for taxes
A county's list of properties offered at a tax deed sale but not bought. They can be purchased from the list 90 days after the sale.
Escheatment tax deed
A deed giving a property to the county when it stays unsold on the lands available list for 3 years.
Just value
The Property Appraiser's market value for tax purposes. It isn't an appraisal, and vacant lots often sell above it.
Quiet title action
A circuit court lawsuit that settles who owns a property.
Title certification
A specialist firm's research-based route toward insurable title without a quiet title suit.
Documentary stamps
Florida's tax on a deed: $0.70 per $100 of the price in most counties.