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Glossary

The following terms may be used on this site.

 


A | B | C | D | E | F | G | I | L | M | N | O | P | Q | R | S | T | W


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Account number
Unique number assigned to identify an individual property.
Acreage
Unit used to define the quantity of land
Ad valorem tax
Means "According to value". A tax that is imposed on the value of property, real or personal.
Advertisement
Notice given in a manner designed to attract public attention.
Alias execution
Replacement for lost or destroyed execution (O.C.G.A.48-3-7).
Appraised Value
A valuation or a determination as to value of property.
Assessment/Assessed Value
40% of fair market value of property used to compute ad valorem taxes.

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Bar the right of redemption
Procedure that extinguishes the ability to repurchase property forcibly sold to satisfy a judgment or other claim against a debtor.
Bona fide purchaser
One who has purchased property for value without any notice of any defects in the title of the seller.

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Calendar week
A block of seven days registered on the calendar beginning with Sunday and ending with Saturday.

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Deed (GED) Book/Page
Identifies the book number and page number of a recorded legal document on the General Execution Docket of the Superior Court.
Defaulter
A taxpayer whose taxes have not been paid on the date they are due. Same as a delinquent taxpayer. Also a taxpayer who has failed to return their property.
Defendant
The person defending or denying; the party against whom relief or recovery is sought in an action or suit or the accused in a criminal case.

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Execution
The process and/or form used for levying on and selling enough of a delinquent taxpayer's property to satisfy unpaid taxes.
Execution docket
Tax Commissioner's execution docket or GED in Clerk of Superior Court's office.
Execution transferee
The appropriate person to whom an execution must be transferred when he or she pays taxes and costs due on an execution.
Exemption
Relief from a certain amount or proportion of tax liability granted to a property owner upon approval of an application.

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Fair market value
The price at which property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy and both having reasonable knowledge of the relevant facts.
Fieri facias (Fi.Fa.)
Means you "cause it to be done." A judicial writ directing the sheriff to satisfy a judgment from the debtor's property.
Foreclosure
To shut out; to bar; to terminate. A termination of all rights of the mortgagor or his grantee in the property covered by the mortgage. Procedure by which mortgaged property is sold on default of mortgagor in satisfaction of mortgage debt.

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Grantee
The person to whom property is transferred (the buyer).
Grantor
The person who transfers the property to another (the seller).

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Improvement
Buildings or other more or less permanent structures or developments located on a parcel of land.
In personam
The legal process directed against a person.
In rem
The legal process directed against a property.
Interest
A right, claim, title or legal share in something; compensation required by law to be charged on principal tax liability after the established due date.
Interested parties
Those who have a legally recognized private interest.
Interpleader
An equitable proceeding to determine the rights of rival claimants to property held by a third party having no interest therein.

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Legal description
A detailed description of real property. Such must be complete enough that a particular parcel of land can be located and identified.
Levy
The process whereby a sheriff or other state official empowered by writ or other judicial directive actually seizes, or otherwise brings within his or her control, a delinquent taxpayer's property to satisfy the judgment; the legislative rate or amount of taxation.
Lien
A claim, encumbrance, or charge on a taxpayer's property to obtain payment of overdue taxes.
Life estate
An estate whose duration is limited to the life of the party holding it, or some other person. A legal arrangement whereby the beneficiary (i.e. the life tenant) is entitled to the income from the property during his or her life. Upon the death of the life tenant, the property goes to the person holding the remaining interest or to the grantor by reversion.

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Mortgagee
The person who takes, holds, or receives a mortgage.
Mortgagor
The debtor; the party who mortgages the property. The party to a mortgage who gives legal title or a lien to the mortgage in order to secure the mortgage loan.

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Net Assessment
Actual value used to compute tax liability after exempt credit has been made.
Net Rate
Individual millage rate set by specified governing agency.
Notice
Information; knowledge of the existence of a fact or state of affairs; Communication to a person by an authorized person, or actually derived by him or her from a proper source.
Nulla bona
The name of the return made by the sheriff to a writ of execution when he or she has not found any goods of the defendant within his or her jurisdiction on which to levy.

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Overbid
Amount paid above the delinquent taxes, any fees and interest.
Owner
The person in whom is vested the ownership, dominion, or title of property; proprietor.

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Penalty
A sum of money exacted for punishment for doing some act which is prohibited or for not doing some act which is required; 10% of the principal tax liability.
Personal property
In broad and general sense, everything that is the subject of ownership which is not under the denomination of real estate. A right or interest in things which are personal, or any right or interest which one has in things movable.
Pointing out
The act of a delinquent taxpayer in pointing out or selecting property that he or she prefers to be levied on. (O.C.G.A. 48-3-4).
Property Address
The physical address of a parcel of land.
Property Class
Identifies the type of property.

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Quitclaim
The release of a claim.

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Real property
Land, and generally whatever is erected or growing upon or affixed to land. Also rights issuing out of, annexed to, and exercisable within or about land. A general term for lands, tenements, and hereditaments; property which, on the death of the owner intestate, passes to his or her heir.
Redemption
A repurchase; a buying back. The act of a vendor of property in buying it back again from the purchaser at the same or enhanced price.
Redemption period
A time period during which a defaulted mortgage, land contract, deed of trust, tax deed, etc., can be redeemed. Such period is commonly provided by state statute.

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Sales Tax Credit
Offset granted due to the collection of local sales tax.
Security deed
A deed pledging property to secure a loan.
State Credit
Reduction granted in result of homeowner's tax relief enacted by the Governor and the General Assembly of the State of Georgia.
Statute of limitations
Statutes of the federal government and various states setting maximum time periods during which certain actions can be brought or rights enforced. After the time period set out in the applicable statute of limitations has run, no legal action can be brought regardless of whether any cause of action ever existed.
Summons of garnishment
An order issued by an appropriate officer to a person owing the delinquent taxpayer money or holding property of the delinquent taxpayer which may be used to pay the taxes and costs due (O.C.G. A. 48-3-12).

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Tax deed
The deed given upon a sale of real property made for non-payment of taxes. The deed whereby the officer of the law undertakes to convey the title of the property to the purchaser at the tax sale. This is sometimes called a sheriff's deed.
Tax District
Defines the municipality or unincorporated area within Fulton County.
Tax sale
A sale of land for unpaid taxes; a sale of property, by authority of law, for the collection of a tax assessed upon it, or upon its owner which remains unpaid.
Temporary Tax Bill
Property tax bill based on return value or 85% of the value proposed by the Board of Assessors due to an appeal.
Title
The right to or ownership in land; means whereby the owner of lands has the just possession of his or her property.
Transfer
An act by parties by which the title to property is conveyed from one person to another.
Transferee
The person to whom a transfer is made.

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Warranty deed
A deed which conveys the title to property whereby the seller guarantees the title to be good and unencumbered except as stated and agrees to defend and protect the purchaser against any loss that may arise in the future from any defect in the title at he time of conveyance.
Writ
A written court order or a judicial process, directing that a sheriff or other judicial officer do what is commanded by the writ; or giving authority and commission to have it done.