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

Law360, Washington (May 1, 2013, 7:07 PM EDT) -- A Maryland federal judge on Tuesday threw out a putative class action launched by Montgomery County, Md., that alleged Fannie Mae and Freddie Mac failed to pay real estate transfer taxes, saying the two are exempt from such state and local taxes.

U.S. District Judge Deborah K. Chasanow said in an extensive 38-page memorandum that Montgomery County's suit and tax interpretation would “effectively eviscerate” Fannie and Freddie's charter exemptions, and noted that several other district courts had agreed with her ruling in similar cases.

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