Fannie, Freddie Escape Property Transfer Tax Suit In NC

Law360, New York (September 17, 2013, 4:28 PM EDT) -- Fannie Mae and Freddie Mac scored another win against local tax collectors Monday when a North Carolina federal court ruled that the mortgage giants are exempt from paying real estate transfer taxes in the state, halting a class action brought by multiple counties.

The win marks the latest in a controversy that began in August 2012 when several North Carolina counties banded together and filed a class action alleging that Fannie Mae and Freddie Mac refused to pay county real estate transfer taxes dating back to...
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