What rights accrue to the purchaser of a tax lien certificate?

A tax lien certificate issued by a local city or county governmental entity is usually considered superior to all other liens in existence upon the property with the possible exception of federal government liens such as those imposed by the Internal Revenue Service. Tax certificates DO NOT transfer title or ownership of the property to the investor. Any loss of title to real property for unpaid ad valorem real estate taxes must be initiated through tax deed foreclosure proceedings. This usually requires an additional capital investment by the tax lien purchaser.