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When are real estate taxes that have remained delinquent for a statutory period collected?

  1. Forfeiture Sale

  2. Priority Of Liens

  3. Subordination Agreements

  4. Tax Sale

The correct answer is: Tax Sale

The correct answer is the tax sale. A tax sale is a process used by local governments to collect delinquent property taxes. When property taxes are not paid within the statutory period established by law, the municipality may conduct a tax sale to recover the owed taxes. During this sale, the property is auctioned off to the highest bidder, and the proceeds are used to satisfy the outstanding tax debts. In this process, the government effectively places a lien on the property for the delinquent tax amount, and through the sale, it ensures the collection of these unpaid taxes. The tax sale serves as a means to clear the tax arrears and can lead to the potential loss of the owner's property if the taxes remain unpaid. The other options refer to different aspects of real estate transactions or legal agreements rather than the process of collecting delinquent taxes. Forfeiture sales usually pertain to the sale of properties that have been forfeited due to other legal issues. Priority of liens discusses the order in which different liens on a property will be satisfied in the event of a sale or foreclosure. Subordination agreements involve the arrangement between lender priorities regarding existing liens on a property. Each of these concepts is related to real estate but does not specifically address the collection process of delin