Fannie, Freddie Exempt From Pa. Transfer Taxes, Judge Says

Law360, Philadelphia (March 27, 2013, 5:56 PM EDT) -- Fannie Mae and Freddie Mac’s congressional charters exempt the two entities from paying real estate transfer taxes, a Pennsylvania federal judge ruled Tuesday while axing a putative class action lodged on behalf of the state’s 67 counties.

U.S. District Court Gene Pratter rejected arguments leveled by Delaware and Chester counties claiming that a narrow carve-out in Fannie Mae and Freddie Mac’s charters requiring payment of taxes on real property means the entities should be required to pay transfer taxes when buying and selling foreclosed properties....
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