CollectionFinancial Dictionary -> Debt -> Collection
There is also the effort to collect on back taxes on a real estate property. The county tax adjustor does this when the property tax has not been paid and the amount of time has past for payment without a penalty. If the real estate debt is not satisfied when the attempt to collect has been made then a process to place the property for tax sale can be started. This is also known as a property being placed for sheriff sale, because the property owner will be served with tax lien papers by a sheriff. The other type of collection is the real estate collection usually done by investor that has several or many properties.