SECTIONS 4501-4505 - California Statutes

REVENUE AND TAXATION CODE

SECTION 4501-4505

4501. The definitions in this chapter shall govern the construction
of this part.

4502. "Assigned penalties" means, with respect to any taxes and
assessments assigned pursuant to a tax certificate, any and all
penalties related thereto which are or may be payable pursuant to
Sections 2617, 2618, 2704, 2705, 2759, 2760, 2761, 2762, and 4103.

4503. "Delinquency date" means the date on which a delinquency
penalty attaches to taxes pursuant to Section 75.52, 2617, 2618,
2704, 2705, 2759, 2760, 2761, or 2762, as applicable.

4504. "Secured roll property" means property that remains on the
secured roll after taxes thereon have been declared in default.

4505. "Tax certificate" means the intangible property right created
upon a sale by the tax collector pursuant to Chapter 3 (commencing
with Section 4521) of the right to receive all amounts in respect of
a delinquency in connection with secured roll property or property on
the supplemental roll.
(a) A tax certificate shall be issued for a separately assessed
parcel, or for multiple parcels with separate assessments, that are
delinquent or defaulted at the time of the offer of the sale of the
tax certificate and not for any subsequent year taxes or assessments.
A tax certificate shall identify the parcel or parcels securing the
certificate, bear the date of the purchase of the tax certificate,
the name of the purchaser (or any successor) of the tax certificate,
the total amount due, including taxes and assessments, being assigned
to the purchaser of the tax certificate (as they may be reduced
pursuant to subdivision (b) of Section 4525), and the purchase price
of the tax certificate.
(b) Tax certificates may be in the form of physical certificates
or may be in book-entry form, including an electronic medium, in the
discretion of the county.