Ohio Counties Sue Fannie, Freddie Over Deed Transfer Taxes

Law360, New York (July 26, 2012, 2:21 PM EDT) -- Mortgage giants Fannie Mae and Freddie Mac were hit with another proposed class action in federal court Tuesday, this one filed by several Ohio counties, over allegedly dodging millions of dollars worth of property-related transfer taxes.

Led by Montgomery County, the suit contends that since 2002 the two companies have illegally claimed to be government entities that are exempt from having to pay excise taxes when property under its domain traded hands. Echoing a string of similar suits across the country, the Ohio counties claim the...
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