Fannie, Freddie Sue Illinois Officials Over Transfer Taxes

Law360, New York (June 25, 2012, 4:50 PM EDT) -- Fannie Mae and Freddie Mac filed a lawsuit Friday alleging they should not have to pay years of back real estate transfer taxes in Illinois, arguing that their Congressional charters exempt them from state and local taxation.

The suit, filed in the Northern District of Illinois, comes in response to demands by a half-dozen counties and the state government that Fannie and Freddie cough up five years worth of real estate transfer taxes. The agencies claim the transfer taxes, imposed when a piece of real property...
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