Cancellation by acquisition is?

Cancellation by acquisition is?

• A. If municipality owns the property before filing for foreclosure, it may cancel the tax certificate by resolution.
• B. Only with a court order.
• C. Never allowed.
• D. Only if the property is sold.

Answer: (A)

Cancellation by acquisition happens when the municipality has already acquired ownership of the property before starting foreclosure, so it can cancel the tax certificate by passing a resolution. Since the municipality owns the property, there’s no need to go through foreclosure or obtain a court order—the governing body can simply resolve to cancel the certificate. This isn’t about a sale to someone else, and it isn’t forbidden; it’s the mechanism for stopping the tax certificate when the property is already in municipal hands.

Cancellation by acquisition happens when the municipality has already acquired ownership of the property before starting foreclosure, so it can cancel the tax certificate by passing a resolution. Since the municipality owns the property, there’s no need to go through foreclosure or obtain a court order—the governing body can simply resolve to cancel the certificate. This isn’t about a sale to someone else, and it isn’t forbidden; it’s the mechanism for stopping the tax certificate when the property is already in municipal hands.