A tax deed is a legal document that grants ownership of a property to a government body when the property owner fails to pay the taxes due on that property. When property taxes are delinquent, the taxing authority can sell a tax deed on the property to collect the owed taxes. Once sold, the original owner usually has a specified period to redeem (buy back) the property by paying the owed taxes plus any penalties. If they fail to do so within the redemption period, the holder of the tax deed can secure full ownership of the property.