A Tax Deed is a legal document that transfers ownership of a property to a buyer after the original owner fails to pay their property taxes. When taxes remain unpaid for a certain period, the local government can sell the property at a public auction to recover the owed taxes. The winning bidder receives the tax deed, which grants them ownership rights. Purchasing a property through a tax deed can be an opportunity for investors, as these properties are often sold at a lower price. However, buyers should be aware of potential risks, such as existing liens or the condition of the property, before making a purchase.