Miami-Dade County Joins Fannie, Freddie Transfer Tax Fight

Law360, New York (October 31, 2012, 1:34 PM EDT) -- Florida’s Miami-Dade County on Monday joined a growing list of municipalities to launch putative class actions against Fannie Mae and Freddie Mac alleging the mortgage giants dodged real estate transfer taxes on foreclosed properties they assumed control of.

The suit lodged in Florida federal court by Miami-Dade County Court Clerk Harvey Ruvin accuses the government-sponsored enterprises of skipping out on Miami-Dade’s 70-cents-on-$100 tax applied to property transfers by improperly claiming they’re exempt from paying the tax.

“Fannie Mae and Freddie Mac are parties to thousands of...
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